Advanced Emissions Solutions, Inc. Announces $20 Million Stock Repurchase Program
November 16 2018 - 6:59AM
Advanced Emissions Solutions, Inc. (NASDAQ:ADES) (the
“Company" or “ADES”) today announced that its Board of Directors
has approved the repurchase of up to $20 million of the
Company’s common stock in the open market. The repurchases will be
funded from cash on-hand.
L. Heath Sampson, President and CEO of ADES, commented, "We are
pleased to announce the continuation of our capital allocation
program, which builds on over $63 million returned to shareholders
through repurchases and dividends since March 2017. We continue to
generate strong cash flows and maintain a solid balance sheet and
this open market repurchase program is consistent with our balanced
approach to capital allocation, while still allowing us to execute
on finalizing our recently announced acquisition."
The timing and exact number of common shares purchased will be
at the Company’s discretion and will depend on market conditions.
The stock repurchase program will terminate on December 31,
2019, but may be extended by the Company’s Board of Directors. The
Company may suspend or discontinue the repurchases at any time.
Subject to applicable securities laws and stock exchange rules, all
purchases will occur through the open market and may be in large
block purchases. Advanced Emissions Solutions, Inc. does
not intend to purchase its shares from its officers and
directors.
About Advanced Emissions Solutions,
Inc.Advanced Emissions Solutions, Inc. serves as the
holding entity for a family of companies that provide emissions
solutions to customers in the power generation and other
industries.
ADA-ES, Inc. (“ADA”) is a wholly-owned subsidiary of Advanced
Emissions Solutions, Inc. (“ADES”) that provides emissions control
solutions for coal-fired power generation and industrial boiler
industries. With more than 25 years of experience developing
advanced mercury control solutions, ADA delivers proprietary
environmental technologies, equipment and specialty chemicals that
enable coal-fueled boilers to meet emissions regulations. These
solutions enhance existing air pollution control equipment,
maximizing capacity and improving operating efficiencies. Our track
record includes securing more than 40 US and international patents
for emissions control technology and systems and selling the most
activated carbon injection systems for power plant mercury control
in North America. For more information on ADA, and its products and
services, visit www.adaes.com.
Tinuum Group, LLC (“Tinuum Group”) is a 42.5% owned joint
venture by ADA that provides ADA’s patented Refined Coal (“RC”)
CyClean™ technology to enhance combustion of and reduce emissions
of NOx and mercury from coals in cyclone boilers and ADA’s patented
M-45™ and M-45-PC™ technologies for Circulating Fluidized Bed
boilers and Pulverized Coal boilers respectively.
Caution on Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act of 1934,
which provides a “safe harbor” for such statements in certain
circumstances. The forward-looking statements include the timing,
manner, and total number of shares to be purchased under the stock
repurchase program. Such statements are based on management’s
current expectations and are subject to a number of uncertainties
and risks, which could cause actual results to differ materially
from those described in the forward-looking statements. Information
about potential factors that could affect Advanced Emissions
Solutions, Inc.’s business, results of operations and financial
condition is included in the Risk Factors sections of Advanced
Emissions Solutions, Inc.’s filings with the Securities and
Exchange Commission. All forward-looking statements included in
this document are based on information available to Advanced
Emissions Solutions, Inc.as of the date of this document, and
except to the extent Advanced Emissions Solutions,
Inc. may be required to update such information under any
applicable securities laws, Advanced Emissions Solutions,
Inc. assumes no obligation to update such forward-looking
statements.
Source: Advanced Emissions Solutions, Inc.
Investor Contact:Alpha IR GroupChris Hodges or
Ryan Coleman312-445-2870ADES@alpha-ir.com
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