Chart Industries today announced that its Board of Directors has authorised the repurchase of up to $75m of its common stock over the next twelve months.
Under the stock repurchase programme, Chart may purchase shares of its common stock through various means, including open market transactions, block purchases, privately negotiated transactions or otherwise in accordance with applicable federal securities laws, including Rule 10b-18 and Rule 10b5-1 of the Securities Exchange Act of 1934, as amended.
“This stock buyback programme reflects our confidence in our business going forward, we believe our shares are an attractive investment opportunity,” said Jill Evanko, Chart’s CEO.
“Our strong cash flow simultaneously enables us to return value to shareholders, pay down debt, and deploy capital for productivity and growth opportunities.”
The timing and amount of any repurchases under the programme will be determined by Chart’s management at its discretion based on a variety of factors, including, but not limited to, trading volume and market price of the company’s common stock, cooperate considerations, the company’s working capital and investment requirements, general market and economic conditions, and legal requirements.
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