ALPHA PRO TECH, LTD. ANNOUNCES $1 MILLION EXPANSION OF SHARE REPURCHASE PROGRAM FOR IMMEDIATE RELEASE
Alpha Pro Tech (NYSE American: APT) has announced a $1.0 million expansion of its existing share repurchase program. This expansion brings the total available for share repurchases to approximately $1.5 million, with $0.5 million remaining from the previous expansion announced in April 2024. The company plans to repurchase shares through open market purchases or privately-negotiated transactions and intends to retire all repurchased shares.
The repurchases may be executed through a pre-arranged plan under Rule 10b5-1 and Rule 10b-18 of the Securities Exchange Act of 1934. Additional open market and privately-negotiated purchases may occur outside the repurchase plan, subject to market conditions and applicable regulations.
Alpha Pro Tech (NYSE American: APT) ha annunciato una espansione di $1,0 milioni del suo programma di riacquisto azionario esistente. Questa espansione porta il totale disponibile per i riacquisti a circa $1,5 milioni, con $0,5 milioni rimanenti dall'espansione precedente annunciata ad aprile 2024. La società prevede di riacquistare azioni attraverso acquisti nel mercato aperto o transazioni private e intende ritirare tutte le azioni riacquistate.
I riacquisti possono essere eseguiti attraverso un piano pre-accordato in base alle Regole 10b5-1 e 10b-18 della Securities Exchange Act del 1934. Ulteriori acquisti nel mercato aperto e transazioni private possono avvenire al di fuori del piano di riacquisto, soggetti a condizioni di mercato e normative applicabili.
Alpha Pro Tech (NYSE American: APT) ha anunciado una expansión de $1.0 millones de su programa de recompra de acciones existente. Esta expansión eleva el total disponible para la recompra de acciones a aproximadamente $1.5 millones, con $0.5 millones restantes de la expansión anterior anunciada en abril de 2024. La compañía planea recomprar acciones a través de compras en el mercado abierto o transacciones negociadas en privado y tiene la intención de retirar todas las acciones recompradas.
Las recompras pueden ejecutarse a través de un plan preestablecido bajo la Regla 10b5-1 y la Regla 10b-18 de la Ley de Bolsa de Valores de 1934. Compras adicionales en el mercado abierto y transacciones privadas pueden ocurrir fuera del plan de recompra, sujetas a condiciones de mercado y regulaciones aplicables.
Alpha Pro Tech (NYSE American: APT)는 기존 자사주 매입 프로그램의 100만 달러 확장을 발표했습니다. 이번 확장으로 자사주 매입 가능 총액은 약 150만 달러에 이르며, 2024년 4월에 발표된 이전 확장에서 남은 50만 달러가 포함됩니다. 회사는 공개 시장 구매 또는 사적으로 협상된 거래를 통해 주식을 재구매할 계획이며, 모든 재구매된 주식을 매각할 의도를 가지고 있습니다.
재구매는 1934년 증권 거래법 제10b5-1 및 제10b-18에 따른 사전 계획을 통해 실행될 수 있습니다. 추가적인 공개 시장 및 사적인 거래는 시장 상황 및 적용 가능한 규정에 따라 재구매 계획 외부에서 발생할 수 있습니다.
Alpha Pro Tech (NYSE American: APT) a annoncé une expansion de 1,0 million de dollars de son programme de rachat d'actions existant. Cette expansion porte le total disponible pour les rachats d'actions à environ 1,5 million de dollars, avec 0,5 million de dollars restant de l'expansion précédente annoncée en avril 2024. L'entreprise prévoit de racheter des actions par le biais de achats sur le marché ouvert ou de transactions négociées en privé et a l'intention de retirer toutes les actions rachetées.
Les rachats peuvent être exécutés par le biais d'un plan préétabli en vertu des règles 10b5-1 et 10b-18 de la Loi sur les valeurs mobilières de 1934. Des achats supplémentaires sur le marché ouvert et des transactions privées peuvent se produire en dehors du plan de rachat, sous réserve des conditions du marché et des règlements applicables.
Alpha Pro Tech (NYSE American: APT) hat eine Erweiterung von 1,0 Millionen US-Dollar für sein bestehendes Aktienrückkaufprogramm angekündigt. Diese Erweiterung erhöht die insgesamt für Rückkäufe verfügbaren Mittel auf etwa 1,5 Millionen US-Dollar, wobei 0,5 Millionen US-Dollar aus der im April 2024 angekündigten vorherigen Erweiterung verbleiben. Das Unternehmen plant, Aktien durch offene Marktkäufe oder privat ausgehandelte Transaktionen zurückzukaufen und beabsichtigt, alle zurückgekauften Aktien einzuziehen.
Die Rückkäufe können im Rahmen eines vorab vereinbarten Plans gemäß den Regeln 10b5-1 und 10b-18 des Securities Exchange Act von 1934 durchgeführt werden. Weitere Käufe im offenen Markt und privat ausgehandelte Käufe können außerhalb des Rückkaufplans erfolgen, abhängig von den Marktbedingungen und geltenden Vorschriften.
- Expansion of share repurchase program by $1.0 million
- Total of $1.5 million now available for share repurchases
- Intention to retire all repurchased shares, potentially increasing shareholder value
- None.
Insights
Alpha Pro Tech's
Share buybacks can be positive for investors as they reduce the number of outstanding shares, potentially increasing earnings per share and stock value. However, it's important to consider that for a small-cap company like APT, this capital could alternatively be used for growth initiatives or operational improvements.
The implementation of a Rule 10b5-1 plan suggests a structured approach to repurchases, which can help mitigate concerns about market timing and insider trading. Investors should monitor the execution of this program and its impact on the company's cash position and growth strategies.
The expansion of APT's share repurchase program could be seen as a bullish signal in the protective equipment and building products sectors. With a market cap of
Investors should consider this move in the context of industry trends. The protective apparel market has seen fluctuations post-pandemic and the building products sector is sensitive to economic cycles. APT's confidence in repurchasing shares might suggest stable demand for their products or anticipated growth in their market segments.
However, it's important to analyze APT's competitive position and financial performance alongside this buyback program to fully assess its potential impact on long-term shareholder value.
NOGALES, Ariz., Oct. 02, 2024 (GLOBE NEWSWIRE) -- 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
With this authorized expansion, the Company now has approximately
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 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 the Company’s strategy, including the number of shares of common stock to be repurchase by the Company, if any, 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. Specifically, these factors include, but are not limited to, our changes in global economic conditions; the inability of our suppliers and contractors to meet our requirements; potential challenges related to international manufacturing; the inability to protect our intellectual property; competition in our industry; customer preferences; the timing and market acceptance of new product offerings; security breaches or disruptions to the information technology infrastructure; the impact of legal and regulatory proceedings or compliance challenges; and volatility in our common stock price and our investments. 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.
FAQ
How much did Alpha Pro Tech (APT) expand its share repurchase program by?
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