Alpha Pro Tech, Ltd. Announces Additional $2 Million Expansion to Share Repurchase Program
23 June 2017 - 6:15AM
Marketwired
Alpha Pro Tech, Ltd. Announces Additional $2
Million Expansion to Share Repurchase Program
NOGALES, AZ-(Marketwired - Jun 22, 2017) - 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 $2.0 million expansion of the
Company's existing share repurchase program.
With this authorized expansion, the Company now
has approximately $2.9 million available to repurchase shares of
the Company's common stock, $0.9 million of which remains from the
previous expansion announced in November.
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 Millar905-479-0654e-mail: ir@alphaprotech.comInvestor Relations Contact:Hayden IRCameron
Donahue651-653-1854e-mail: cameron@haydenir.com
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