Alpha Pro Tech, Ltd. Announces Additional $2 Million Expansion to Share Repurchase Program
December 20 2018 - 04:15PM
Nogales, Arizona – December 20, 2018, Alpha Pro Tech, Ltd.
(NYSE American: APT), a leading manufacturer of products
designed to protect people, products and environments, including
disposable protective apparel and building products, today
announced that its Board of Directors has authorized a $2.0 million
expansion of the Company’s existing share repurchase program.
With this authorized expansion, the Company now
has approximately $2.7 million available to repurchase shares of
the Company’s common stock, $0.7 million of which remains from the
previous expansion announced in June 2018.
Management anticipates repurchasing shares
through open market purchases or through privately-negotiated
transactions and intends to retire all shares purchased through the
share repurchase program. Open market purchases may be
executed by the Company’s broker through a pre-arranged repurchase
plan, which operates in accordance with the guidelines specified
under Rule 10b5-1 and Rule 10b-18 of the Securities Exchange Act of
1934, as amended. Any transactions under the repurchase plan
will be effected in accordance with the terms of the plan,
including specified price, volume and timing conditions, and will
be applied against the amount authorized for the Company’s share
repurchase program. Other open market and
privately-negotiated purchases may occur from time to time outside
the repurchase plan based on market and general business
conditions, subject to applicable rules and regulations.
About Alpha Pro Tech, Ltd.
Alpha Pro Tech, Ltd. is the parent company of Alpha Pro Tech, Inc.
and Alpha ProTech Engineered Products, Inc. Alpha Pro Tech, Inc.
develops, manufactures and markets innovative disposable and
limited-use protective apparel products for the industrial, clean
room, medical and dental markets. Alpha ProTech Engineered
Products, Inc. manufactures and markets a line of construction
weatherization products, including building wrap and roof
underlayment. The Company has manufacturing facilities in Salt Lake
City, Utah; Nogales, Arizona; Valdosta, Georgia; and a joint
venture in India. For more information and copies of all news
releases and financials, visit Alpha Pro Tech's Website at
http://www.alphaprotech.com.
Certain statements made in this press release
constitute “forward-looking statements” within the meaning of the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. Forward-looking statements include any statement that
may predict, forecast, indicate or imply future results,
performance or achievements instead of historical facts and may be
identified generally by the use of forward-looking terminology and
words such as “expects,” “anticipates,” “estimates,” “believes,”
“predicts,” “intends,” “plans,” “potentially,” “may,” “continue,”
“should,” “will” and words of similar meaning. Without limiting the
generality of the preceding statement, all statements in this press
release relating to estimated and projected earnings, margins,
costs, expenditures, cash flows, sources of capital, growth rates
and future financial and operating results are forward-looking
statements. We caution investors that any such forward-looking
statements are only estimates based on current information and
involve risks and uncertainties that may cause actual results to
differ materially from the results contained in the forward-looking
statements. We cannot give assurances that any such statements will
prove to be correct. Factors that could cause actual results to
differ materially from those estimated by us include the risks,
uncertainties and assumptions described from time to time in our
public releases and reports filed with the Securities and Exchange
Commission, including, but not limited to, our most recent Annual
Report on Form 10-K. We also caution investors that the
forward-looking information described herein represents our outlook
only as of this date, and we undertake no obligation to update or
revise any forward-looking statements to reflect events or
developments after the date of this press release. Given these
uncertainties, investors should not place undue reliance on
forward-looking statements as a prediction of actual results.
Company Contact:
Alpha Pro Tech, Ltd.
Donna Millar
905-479-0654
e-mail: ir@alphaprotech.com
Investor Relations Contact:
Hayden IR
Cameron Donahue
651-653-1854
e-mail: cameron@haydenir.com
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