ALPHA PRO TECH, LTD. ANNOUNCES $1 MILLION EXPANSION OF SHARE REPURCHASE PROGRAM FOR IMMEDIATE RELEASE
02 Octobre 2024 - 9:30PM
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 $1.0
million expansion of the Company’s existing share repurchase
program.
With this authorized expansion, the Company now
has approximately $1.5 million available to repurchase shares of
the Company’s common stock, $0.5 million of which remains from the
previous expansion, most recently announced in April 2024.
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.
Company Contact:
Alpha Pro Tech, Ltd.
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
Alpha Pro Tech (AMEX:APT)
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