Navigator Holdings Ltd. Announces Share Repurchase Plan
Navigator Holdings Ltd. (“Navigator” or the “Company”) (NYSE:
NVGS), the owner and operator of the world’s largest fleet of
handysize liquefied gas carriers, announced today that its Board of
Directors has authorised a new share repurchase plan of up to $50.0
million of Navigator’s common stock (the “Plan”).
Pursuant to the Plan, Navigator may repurchase
up to an aggregate of $50.0 million of the Company’s common stock
via open market transactions, privately negotiated transactions or
any other method permitted under U.S. securities laws and the rules
of the U.S. Securities and Exchange Commission.
The timing of any purchases and the number of
shares to be purchased under the Plan will be determined by
Navigator’s management and will depend on market conditions, legal
requirements, stock price and alternative uses of capital, as well
as other factors. The Plan does not oblige Navigator to repurchase
any of its shares and it may be suspended, discontinued or modified
by the Company at any time, for any reason.
About UsNavigator Holdings Ltd.
is the owner and operator of the world’s largest fleet of handysize
liquefied gas carriers and a global leader in the seaborne
transportation services of petrochemical gases, such as ethylene
and ethane, liquefied petroleum gas (“LPG”) and ammonia and owns a
50% share, through a joint venture, in an ethylene export marine
terminal at Morgan’s Point, Texas on the Houston Ship Channel, USA.
Navigator’s fleet consists of 53 semi- or fully-refrigerated
liquefied gas carriers, 21 of which are ethylene and ethane
capable. On September 30, 2022, Navigator announced a new joint
venture with Greater Bay Gas Co. Ltd. (“Greater Bay”), owned 60% by
Navigator and 40% by Greater Bay, with the intention to acquire
five ethylene vessels over the next fifteen months. The Company
plays a vital role in the liquefied gas supply chain for energy
companies, industrial consumers and commodity traders, with its
sophisticated vessels providing an efficient and reliable ‘floating
pipeline’ between the parties, connecting the world today, creating
a sustainable tomorrow.
Navigator’s common stock trades on the New York
Stock Exchange under the symbol “NVGS”.
Investor Relations firstname.lastname@example.org
||1201 Fannin St. Suite 262,
Houston, Texas, U.S.A. 77002
||+1 713 373 6197 and +44 (0)20
Investor Relations / Media AdvisorsNicolas
Bornozis / Paul LampoutisCapital Link - New YorkTel:
Forward Looking StatementsThis
press release contains certain “forward-looking” statements (as
defined by the Securities and Exchange Commission) concerning plans
and objectives of management for future operations or economic
performance, or assumptions related thereto and concerning the Plan
and the joint venture with Greater Bay. In addition, we and our
representatives may from time to time make other oral or written
statements that are also forward-looking statements. In some cases,
you can identify the forward-looking statements by the use of words
such as “may,” “could,” “should,” “would,” “expect,” “plan,”
“anticipate,” “intend,” “forecast,” “believe,” “estimate,”
“predict,” “propose,” “potential,” “continue,” “scheduled,” or the
negative of these terms or other comparable terminology.
These forward-looking statements involve many
risks and uncertainties that could cause actual results to differ
materially from those expressed or implied by such statements.
These risks and uncertainties include but are not limited to those
set forth in the periodic reports Navigator files with the U.S.
Securities and Exchange Commission.
All forward-looking statements included in this
press release are made only as of the date of this press release.
New factors emerge from time to time, and it is not possible for us
to predict all of these factors. Further, we cannot assess the
impact of each such factor on our business or the extent to which
any factor, or combination of factors, may cause actual results to
be materially different from those contained in any forward-looking
statement. We expressly disclaim any obligation to update or revise
any forward-looking statements, whether because of future events,
new information, a change in our views or expectations, or
otherwise. We make no prediction or statement about the performance
of our common stock.
Historical Stock Chart
From Jan 2023 to Feb 2023
Historical Stock Chart
From Feb 2022 to Feb 2023