Retractable Technologies, Inc. Announces Termination of Buyback Plan
18 Avril 2022 - 11:06PM
Business Wire
Retractable Technologies, Inc. (NYSE American: RVP) reports
that, effective April 14, 2022, it has terminated its Rule
10b5-1/10b-18 Repurchase Plan dated June 4, 2021. Since June 2021,
Retractable has purchased a total of 1,087,145 shares for
approximately $8.1 million under the Plan. The Board of Directors
determined to cancel the plan because the stock price appears not
to be correlated with the economic performance of the corporation
at this time. This determination to terminate the repurchase plan
was made despite the fact that the stock is trading at a discount:
our current market capitalization is less than the asset value of
the corporation.
For more information on Retractable, visit its website at
www.retractable.com.
Forward-looking statements in this press release are made
pursuant to the safe harbor provision of the Private Securities
Litigation Reform Act of 1995 and reflect Retractable's current
views with respect to future events. Retractable believes that the
expectations reflected in such forward-looking statements are
accurate. However, Retractable cannot assure you that such
expectations will materialize. Actual future performance could
differ materially from such statements.
Factors that could cause or contribute to such differences
include, but are not limited to: the impact of COVID-19 on all
facets of logistics and operations, as well as costs, Retractable’s
ability to scale up production volumes in response to an increase
in demand, potential tariffs, Retractable's ability to maintain
liquidity; Retractable's maintenance of patent protection;
Retractable's ability to maintain favorable third party
manufacturing and supplier arrangements and relationships; foreign
trade risk; Retractable's ability to access the market; production
costs; the impact of larger market players in providing devices to
the safety market; and other risks and uncertainties that are
detailed from time to time in Retractable's periodic reports filed
with the U.S. Securities and Exchange Commission.
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version on businesswire.com: https://www.businesswire.com/news/home/20220418005545/en/
Retractable Technologies, Inc. John W. Fort III, 888-806-2626 or
972-294-1010 Vice President, Chief Financial Officer, and Chief
Accounting Officer
Retractable Technologies (AMEX:RVP)
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