Paul Mueller Company Board of Directors Approves Share Repurchase Program

Rhea-AI Summary

The Paul Mueller Company (OTC Pink: MUEL) announced a $2,000,000 share repurchase authorization aimed at returning excess cash to shareholders. The repurchases will be conducted via a 10b5-1 Plan, starting from April 2, 2021, until September 24, 2021. This plan will allow the company to repurchase shares in the open market, guided by market conditions and compliance with applicable laws. The program may be modified or suspended at any time without prior notice, reflecting the company's flexible approach to capital management.

Positive

• Authorization of a $2,000,000 share repurchase program to enhance shareholder value.
• Repurchase aimed at returning excess cash, demonstrating confidence in the company's financial position.

Negative

• None.

SPRINGFIELD, Mo., March 19, 2021 (GLOBE NEWSWIRE) -- The Paul Mueller Company (OTC Pink: MUEL) (the “Company”) today announced that the Board of Directors had approved a share repurchase authorization (the “Repurchase Program”) for up to $2,000,000 of the shares of the Company’s common stock. The Board believes that this Repurchase Program reinforces the Company’s commitment to return excess cash to its shareholders.

Stock repurchases may be made from time to time in the open market pursuant to a pre-arranged stock trading plan (a “10b5-1 Plan”) adopted by the Company for the purpose of executing such repurchases in compliance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, or in privately negotiated transactions in compliance with applicable state and federal securities laws. The timing and amounts of any repurchases made pursuant to the 10b5-1 Plan will be in accordance with the terms of the Plan, which will be administered through an independent broker without further direction or discretion of the Company. The 10b5-1 Plan will cover the repurchase of shares beginning on April 2, 2021, through September 24. 2021. The timing and amounts of any repurchases outside the 10b5-1 Plan will be based on market conditions and other factors, including price, regulatory requirements, and capital availability. The Repurchase Program, including the 10b5-1 Plan, does not require the repurchase of any minimum number of shares and may be suspended, modified, or discontinued at any time, without prior notice.

This press release contains forward-looking statements that provide current expectations of future events based on certain assumptions. All statements regarding future performance growth, conditions, or developments are forward-looking statements. Actual future results may differ materially from those described in the forward-looking statement due to a variety of factors, including, but not limited to, the factors stated in the Company’s Annual Report under “Safe Harbor for Forward-Looking Statements,” which is available at paulmueller.com. The Company expressly disclaims any obligation or undertaking to update these forward-looking statements to reflect any future events or circumstances.

Press Contact: Jay Holden | Paul Mueller Company | Springfield, MO 65802 | (417) 575-9422

jholden@paulmueller.com | http://paulmueller.com

FAQ

What is the purpose of the MUEL share repurchase program?

The share repurchase program is designed to return excess cash to shareholders.

When will the MUEL share repurchase program take place?

The repurchase program will commence on April 2, 2021, and run until September 24, 2021.

How much is allocated for the MUEL share repurchase?

The Board of Directors has approved up to $2,000,000 for the share repurchase program.

What is a 10b5-1 Plan in relation to MUEL's repurchase?

A 10b5-1 Plan allows the company to repurchase shares systematically in compliance with securities laws.

Can the MUEL share repurchase program be modified or canceled?

Yes, the repurchase program may be suspended, modified, or discontinued at any time without prior notice.