Alpha Pro Tech (APT) Board Authorizes $2M Buyback
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Alpha Pro Tech, Ltd. (NYSE: APT) today announced that its Board of Directors has authorized a $2.0 million expansion of the Company’s existing share repurchase program. Management anticipates repurchasing shares through open market purchases or through privately negotiated transactions and intends to retire all shares purchased through this program.
With this authorized expansion, the Company now has approximately $2.2 million available to repurchase shares of the Company’s common stock, $0.2 million of which remains from the previous expansion announced in October 2012.
Repurchases may take place on the open market from time to time based on market conditions, subject to certain conditions and timing restrictions to comply with applicable rules and regulations, and may be suspended for periods or discontinued as deemed necessary by the Company. The Company has not established specific goals as to the number of shares to be acquired or the purchase price at which shares will be purchased. Decisions about these matters will be based on market conditions, general business conditions and other relevant factors.
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With this authorized expansion, the Company now has approximately $2.2 million available to repurchase shares of the Company’s common stock, $0.2 million of which remains from the previous expansion announced in October 2012.
Repurchases may take place on the open market from time to time based on market conditions, subject to certain conditions and timing restrictions to comply with applicable rules and regulations, and may be suspended for periods or discontinued as deemed necessary by the Company. The Company has not established specific goals as to the number of shares to be acquired or the purchase price at which shares will be purchased. Decisions about these matters will be based on market conditions, general business conditions and other relevant factors.
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