LPL Investment Group Inc, the Wallingford, Connecticut holding company that makes engineered cable, connectors, fiber optic systems and interconnect systems for the electronic, communications and aerospace industries through its Times Fiber Communications Inc, Amphenol Corp, Amphenol Interconnect Products Corp and American Lightwave Systems Inc subsidiaries, says it has bought back from Insilco Corp 726,568 of its shares, the total Insilco holding, for $12.50 a share, $9.1m all told. It thus cancels about 12% of its shares outstanding. The move follows the decision on January 6 to exercise its option to buy back $15m of its Series A Convertible Preferred Stock from Insilco, which represented another 10% of its equity on a fully diluted basis. Prior to the transactions the company had approximately 6.6m shares outstanding on a fully diluted basis, and the transactions will reduce the number out to 5.1m, having a materially beneficial effect on future earnings per share performance.
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