Perma-Fix Environmental Services Added to Membership of Russell 3000 Index

Rhea-AI Summary

Perma-Fix Environmental Services (NASDAQ: PESI) has been added to the Russell 3000 Index, effective July 1, 2024, as part of the annual Russell indexes reconstitution. This inclusion automatically integrates Perma-Fix into the Russell 2000 Index and relevant growth and value style indexes. FTSE Russell, a leading global index provider, determines membership based on market capitalization and style attributes, capturing the 4,000 largest US stocks as of April 30 each year. This milestone reflects Perma-Fix's strategic progress and its commitment to addressing significant environmental challenges. Approximately $10.5 trillion in assets are benchmarked against the Russell US indexes, emphasizing their importance for investment managers and institutional investors.

Positive

• Perma-Fix Environmental Services has been added to the Russell 3000 Index, enhancing its visibility and credibility.
• Inclusion in the Russell 2000 Index and relevant growth and value style indexes can attract more institutional investors.
• Approximately $10.5 trillion in assets are benchmarked against Russell US indexes, indicating strong interest and potential investment inflows.

Negative

• None.

ATLANTA, July 01, 2024 (GLOBE NEWSWIRE) -- Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) (the “Company”) announces it has been added as a member of the Russell 3000 Index, effective after the US market opens today, July 1, as part of the 2024 Russell indexes reconstitution.

The annual reconstitution of the Russell US indexes captures the 4,000 largest US stocks as of April 30, ranking them by total market capitalization. Membership in the Russell 3000® Index, which remains in place for one year, means Perma-Fix’s automatic inclusion in the Russell 2000 Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.

Mark Duff, President and CEO of Perma-Fix, commented, “We are honored to report Perma-Fix's inclusion in the Russell 3000 Index, which underscores our commitment to solving some of the nation’s and the world’s most pressing environmental challenges. We believe this milestone reflects the dedication of our team and the progress of our strategic initiatives.”

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to data as of the end of December 2023, about $10.5 trillion in assets are benchmarked against the Russell US indexes, which belong to FTSE Russell, a prominent global index provider.

Fiona Bassett, CEO of FTSE Russell, an LSEG Business, comments: “Russell indexes–now in their 40th year–continue to evolve to reflect the dynamic US economy. Annual rebalancing plays a vital role in establishing accurate benchmarks, ensuring they correctly mirror their designated market segments and remain unbiased in terms of size and style.”

For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.

About FTSE Russell:

FTSE Russell is a leading global provider of benchmarking, analytics, and data solutions for investors, giving them a precise view of the market relevant to their investment process. A comprehensive range of reliable and accurate indexes provides investors worldwide with the tools they require to measure and benchmark markets across asset classes, styles, or strategies.

FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. For over 40 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products, and index-based derivatives.

FTSE Russell is focused on applying the highest industry standards in index design and governance, employing transparent rules-based methodology informed by independent committees of leading market participants. FTSE Russell fully embraces the IOSCO Principles, and its Statement of Compliance has received independent assurance. Index innovation is driven by client needs and customer partnerships, allowing FTSE Russell to continually enhance the breadth, depth and reach of its offering.

FTSE Russell is wholly owned by London Stock Exchange Group.

For more information, visit https://www.lseg.com/en/ftse-russell.

About Perma-Fix Environmental Services
Perma-Fix Environmental Services, Inc. is a nuclear services company and leading provider of nuclear and mixed waste management services. The Company's nuclear waste services include management and treatment of radioactive and mixed waste for hospitals, research labs and institutions, federal agencies, including the U.S Department of Energy (DOE), the U.S Department of Defense (DOD), and the commercial nuclear industry. The Company’s nuclear services group provides project management, waste management, environmental restoration, decontamination and decommissioning, new build construction, and radiological protection, safety and industrial hygiene capability to our clients. The Company operates four nuclear waste treatment facilities and provides nuclear services at DOE, DOD, and commercial facilities, nationwide.

Please visit us at http://www.perma-fix.com.

This press release contains “forward-looking statements” which are based largely on the Company's expectations and are subject to various business risks and uncertainties, certain of which are beyond the Company's control. Forward-looking statements generally are identifiable by use of the words such as “believe”, “expects”, “intends”, “anticipate”, “plans to”, “estimates”, “projects”, and similar expressions. Forward-looking statements include, but are not limited to: dedication of our team and the progress of our strategic initiatives. These forward-looking statements are intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. While the Company believes the expectations reflected in this news release are reasonable, it can give no assurance such expectations will prove to be correct. There are a variety of factors which could cause future outcomes to differ materially from those described in this release, including, without limitation, future economic conditions; and our ability to remain on the Russell 3,000® index; and the “Risk Factors” discussed in, and the additional factors referred to under "Special Note Regarding Forward-Looking Statements" of our 2023 Form 10-K and Form 10Q for the first quarter ended March 31, 2024. The Company makes no commitment to disclose any revisions to forward-looking statements, or any facts, events or circumstances after the date hereof that bear upon forward-looking statements.

Contacts:
David K. Waldman-US Investor Relations
Crescendo Communications, LLC
(212) 671-1021

Herbert Strauss-European Investor Relations
herbert@eu-ir.com
+43 316 296 316

FAQ

What is the significance of Perma-Fix Environmental Services (NASDAQ: PESI) being added to the Russell 3000 Index?

Being added to the Russell 3000 Index means Perma-Fix Environmental Services gains increased visibility and credibility, which can attract more institutional investors.

When was Perma-Fix Environmental Services (NASDAQ: PESI) added to the Russell 3000 Index?

Perma-Fix Environmental Services was added to the Russell 3000 Index on July 1, 2024.

How does inclusion in the Russell 3000 Index affect Perma-Fix Environmental Services (NASDAQ: PESI)?

Inclusion in the Russell 3000 Index can enhance Perma-Fix Environmental Services' visibility, attract institutional investors, and potentially lead to increased investment inflows.

What other indexes will Perma-Fix Environmental Services (NASDAQ: PESI) be included in after joining the Russell 3000 Index?

After joining the Russell 3000 Index, Perma-Fix Environmental Services will also be included in the Russell 2000 Index and the appropriate growth and value style indexes.

Why is the Russell 3000 Index important for companies like Perma-Fix Environmental Services (NASDAQ: PESI)?

The Russell 3000 Index is important as it benchmarks about $10.5 trillion in assets, providing significant exposure and potential investment opportunities for companies included in the index.