Business
American Energy Announces Executive Buy-Back Program
American Energy Announces Executive Buy-Back Program.
About this update from American Energy Partners, Inc.
[{"type":"text","content":"\n\n\n\nAmerican Energy Announces Executive Buy-Back Program\n\n\n\n\n\nAmerican Energy Announces Executive Buy-Back Program\nBoard of Directors Authorizes up to $1 million Executive Share Buy-Back\nPR Newswire\nALLENTOWN, Pennsylvania, February 20, 2018\n\n\n\nALLENTOWN, Pennsylvania, February 20, 2018 /PRNewswire/ --\n\nAmerican Energy Partners, Inc. (OTC: AEPT) (the \"Company\", \"American Energy\" or \"AEPT\"), a diversified energy company, today announces that its board of directors have authorized up to $1 million executive share buy-back program. The authorization extends through the end of 2020, and repurchases will be made in accordance with applicable securities laws from time to time in open market or private transactions, depending on market conditions, and may be discontinued at any time.\n\nAmerican Energy's Chairman & CEO, Mr. Brad Domitrovitsch states, \"The advantages of this decision are essentially two-fold. American Energy's executives are reinvesting earnings in the company's shares and this will serve to offset dilution from using equity as currency in M&A activity.\" With an already high percentage of insider ownership representing approximately 70% of shares outstanding, this decision highlights the confidence in American Energy's ability to perform and the growth we see in the upcoming year.\n\nOur ability to continue to meet previous targets is indicative of the quality of the company's assets and the efforts of our organization to deliver strong performance. Going forward, we will continue to demonstrate financial discipline with a focus on returns. Our 2018 M&A investment plan is anticipated to produce substantial free cash flow.\n\nAmerican Energy Partners, Inc. (AEPT) \n\n\nAEPT and its group of companies focus on providing solutions in markets where energy production and water meet technology. Collectively, the subsidiaries are engaged in the energy sector as well as the design, construction and operation of regional water treatment facilities that serve the industrial, energy and government sectors.\n\nFor additional information, visit: American Energy Partners, Inc.\n\nSafe Harbor \n\nThis press release contains forward-looking statements, particularly as related to, among other things, the business plans of AEPT, statements relating to goals, plans and projections...