ORCL purchased 18,446,106 shares of its Common Stock .....
(Copied from Oracle annual report)
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The Company's Board of Directors has approved the repurchase of up to 106,000,000 shares of Common Stock to reduce the dilutive effect of the Company's stock plans. Pursuant to this repurchase program, the Company purchased 18,446,106 shares of the Company's Common Stock for approximately $489,823,000 in fiscal 1998, 19,211,250 shares of the Company's Common Stock for approximately $528,209,000 in fiscal 1997, 6,717,201 shares of the Company's Common Stock for approximately $113,087,000 in fiscal 1996 and 26,458,313 shares of the Company's Common Stock for approximately $200,646,000 prior to fiscal 1996. The Company used cash flow from operations and proceeds from the issuance of Senior Notes in fiscal 1997 to repurchase the Company's Common Stock and to invest in working capital and other assets to support its growth.
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During fiscal 1998, the Company, as part of its authorized stock repurchase program, sold put warrants and purchased call options through private placements. As of May 31, 1998, the Company has a maximum potential obligation under the put warrants to buy back 17,901,000 shares of its Common Stock for prices ranging from $15.86 to $22.77 per share for an aggregate price of approximately $343,000,000. The put warrants will expire from January 1999 through August 1999. The Company purchased call options for 8,950,500 shares of its Common Stock at prices ranging from $18.09 to $26.09 per share for an aggregate price of approximately $212,000,000. The call options will expire from January 1999 through August 1999.
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