Alpha Pro Tech, Ltd. Announces Additional $3 Million Expansion to Share Repurchase Program
November 15 2016 - 4:15PM
Marketwired
Alpha Pro Tech, Ltd. Announces Additional $3 Million Expansion
to Share Repurchase Program
NOGALES, AZ-(Marketwired - Nov 15, 2016) - Alpha Pro Tech, Ltd.
(NYSE MKT: 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 $3.0 million expansion of the
Company's existing share repurchase program.
With this authorized expansion, the Company now has
approximately $3.4 million available to repurchase shares of the
Company's common stock, $0.4 million of which remains from the
previous expansion announced in September 2016.
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. Al Millar/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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