IRVING, Texas, July 16 /PRNewswire-FirstCall/ -- Commercial Metals
Company (NYSE: CMC) today announced that Stanley A. Rabin, Chairman of the
Board of Directors, has executed a prearranged systematic personal stock
trading plan pursuant to, and intended to comply with, Rule 10b5-1 under
the Securities Exchange Act of 1934 and with CMC's policies with respect to
insider sales. Rule 10b5-1 permits officers and directors of public
companies to establish prearranged written plans for selling specified
amounts of stock over a predetermined period of time. The plans may be
entered into only when the insider is not in possession of material,
nonpublic information and may be modified or revoked only in limited
circumstances. The plans permit the gradual and orderly diversification of
investment portfolios for estate planning and other purposes.
Under the plan, Mr. Rabin, 69 years of age, has directed a broker
unaffiliated with the company to sell, subject to certain conditions, up to
240,000 shares of CMC common stock over a period of 24 months, ending in
July 2009. The sales, to be made at roughly quarterly intervals commencing
no earlier than July 18, 2007, are part of Mr. Rabin's personal estate
planning goals. Mr. Rabin previously implemented a similar plan in
accordance with Rule 10b5-1 in January 2006 which will terminate in October
2008. The January 2006 plan presently has 180,000 shares remaining to be
sold.
If the sale of all the shares proposed to be sold under both plans is
completed, Mr. Rabin would continue to own beneficially more than 1,738,000
shares of Commercial Metals Company common stock including existing options
or equivalents exercisable within 60 days. All sales under the plans will
be disclosed publicly through Form 144 and Form 4 filings with the
Securities and Exchange Commission. The Form 4 filings will also be posted
on the company's website at http://www.cmc.com under "About the Company"
"Investor Relations" at "Section 16 Filings."
Commercial Metals Company and subsidiaries manufacture, recycle and
market steel and metal products, related materials and services through a
network including steel minimills, steel fabrication and processing plants,
construction-related product warehouses, a copper tube mill, metal
recycling facilities and marketing and distribution offices in the United
States and in strategic overseas markets.
SOURCE Commercial Metals Company
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Related links:
http://www.cmc.com
CONTACT:
Debbie Okle, Director, Public Relations of
Commercial Metals Company, +1-214-689-4354
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