NOGALES, Ariz., June 22, 2023 (GLOBE NEWSWIRE) — Alpha Pro Tech, Ltd. (NYSE American: APT )The board of directors of the leading manufacturer of products designed to protect people, products and the environment, including disposable protective clothing and construction products, today announced the expansion of the company’s $2.0 million share repurchase program.
With this authorized expansion, the Company now has approximately $2.3 million to purchase shares of the Company’s common stock, $0.3 million remaining from the previous expansion, recently announced in December 2022.
Management expects to repurchase shares through open market purchases or privately negotiated transactions and intends to retire all shares purchased through the share repurchase program. Open market purchases may be made by the Company’s brokers through a pre-arranged purchase plan, which operates under the guidelines set forth in Section 10b5-1 and Rule 10b-18 of the Securities Exchange Act of 1934, as amended. Any transactions under the repurchase plan will be made in accordance with the terms of the plan, including certain price, amount and timing conditions, and will be subject to the amount authorized for the Company’s stock repurchase program. Other open market and privately negotiated purchases may be subject to applicable laws and regulations from time to time based on market and general business conditions other than the Purchase Plan.
About Alpha Pro Tech, Ltd.
Alpha Pro Tech, Ltd. Alpha Pro Tech, Inc. and Alpha Pro Tech Engineered Products, Inc. segment, medical and dental markets. Alpha Protech Engineered Products, Inc. manufactures and markets a line of construction weatherization products, including building wrap and underlayment. The company has manufacturing facilities in Salt Lake City, Utah; Nogales, Arizona; Valdosta, Georgia; and joint work in India. For more information and all news releases and financials, visit Alpha Pro Tech’s website at http://www.alphaprotech.com.
Certain statements made in this press release are “forward-looking statements” within the meaning of the safe harbor provisions of the Securities Litigation Amendment Act of 1995. Rather than historical facts, performance or achievements may generally be expressed using forward-looking words and words such as “expects,” “anticipates,” “estimates,” “estimates,” “believes,” “predicts,” “intends,” “expects.” Plans, “may”, “continue”, “continue”, “shall”, “permit” and words of similar meaning. Without limiting the generality of the preceding statement, all statements in this press release are forward-looking statements regarding the Company’s strategy, including the number of shares of common stock to be purchased by the Company, if any. Investors are cautioned that any such forward-looking statements are only estimates based on current information and involve risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements. We cannot guarantee the accuracy of such statements. Factors that could cause actual results to differ from those projected by us include the risks, uncertainties and assumptions disclosed from time to time in our public statements and in our filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K. In particular, these factors include changes in global economic conditions and exposure to foreign currency exchange risks related to our non-consolidated affiliate operations in India. potential failure to correct material weaknesses in our internal materials; Our cooperation with a joint venture partner; the impact of the COVID-19 outbreak on our business and operations, the business and operations of people in our supply chain and on global economic conditions generally; Changes in order size by our customers; failure of our suppliers and contractors to meet our requirements; Potential problems associated with international production; Our cooperation with a joint venture partner; failure to protect our intellectual property; competition in our industry; Customer preferences; timing and market acceptance of new product offerings; changes in international economic conditions; security breaches or disruptions to information technology infrastructure; risks related to climate change and natural disasters or other events beyond our control; the impact or challenges of legal and regulatory processes; and volatility in common stock prices and investments. We also caution investors that the forward-looking information contained herein represents our view only as of the date hereof and we undertake no obligation to revise 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 predictor of actual results.