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Message: Omagine, Inc. - Current Report on Form 8-K - Directors and Officers Purchase $175,000 Common Stock

Dear Omagine Shareholders,

Omagine, Inc. (“Omagine”) has filed with the SEC its Current Report on Form 8-K (the “Report”). The full text of the Report can be viewed here:   

https://www.sec.gov/Archives/edgar/data/820600/000121390017000975/f8k020217_omagine.htm

An excerpt from the Report is quoted below:

On February 2, 2017, the Company’s three independent directors, Alan M. Matus (“Matus”), Jack A. Smith (“Smith”) and Louis J. Lombardo (“Lombardo”) and the Company’s Vice President, Charles P. Kuczynski (“Kuczynski”) purchased from the Company the aggregate of 330,190 restricted shares of the Company’s common stock (the “Restricted Shares”) at a price of $0.53 per share. Each of Matus, Smith and Lombardo purchased 94,340 Restricted Shares and Kuczynski purchased 47,170 Restricted Shares.

The per share sale price to Matus, Smith, Lombardo and Kuczynski of the Restricted Shares was equal to the closing sale price of the Common Stock on February 1, 2017 less the Finnerty discount for restricted stock of 18% and the aggregate proceeds to the Company was $175,000. Each of the director’s $50,000 purchase price for their 94,340 Restricted Shares was paid to the Company by the $50,000 reduction in the indebtedness owed by the Company to Matus, Smith and Lombardo and the $25,000 purchase price by Kuczynski for the 47,170 Restricted Shares was paid to the Company by the $25,000 reduction in the indebtedness owed by the Company to Kuczynski.

 

Regards,

AGORACOM

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