Adopts Limited Duration Stockholder Rights Agreement
The adoption of the rights plan is intended to protect Aptevo and its shareholders from the actions of third parties which, according to the chief executives of Aptevo`s board of directors, are not in the best interests of Aptevo and its shareholders and enable all shareholders to realize the full potential value of their investment in Aptevo. The rights plan gives the Board of Directors time to make informed decisions in the long-term best interests of Aptevo and its shareholders and does not prevent Aptevo`s Board of Directors from considering an offer to buy Aptevo, which it believes is in aptevo`s interest. This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. All historical statements are forward-looking statements. Words such as “will,” “may,” “could,” “would,” “expected,” “expected,” “estimated,” “expected,” “expected,” “intentional” and similar expressions are intended to identify such forward-looking statements, but are not the only way to identify them. These statements are not guarantees that our expectations are correct and involve a number of risks, uncertainties and assumptions. Many factors, including those that have been further reviewed in this press release and in documents submitted by Newpark to the Securities and Exchange Commission, including the Annual Report on Form 10-K for the year past December 31, 2019 and the quarterly report on Form 10-Q for the period past March 31, 2020 and others may result. actual plans or results are substantially expressed or implied in Form 10-Q by these statements. These risk factors include, among other things, the risks associated with the COVID 19 pandemic; The global oil and gas industry; Our customers` concentration and dependence on the U.S. exploration and production market; Our international activities; our ability to recruit, maintain and develop skilled executives, key workers and skilled personnel; Availability of raw materials Our costs and the continued availability of borrowed credits, including non-compliance with debt pacts; Risks of exploitation in the oil and gas industry and significant liability claims, including catastrophic well incidents; our ability to implement our business strategy and carry out business acquisitions and capital investments; our competition in the marketplace; our contracts that can be terminated or reduced by our customers without penalty; our expansion of the product offering; compliance with environmental legislation and legislation; our legal respect Restrictions on insurance coverage Income taxes Potential impairments of good reels and durable intangible assets; Technological developments and intellectual property in our sector; weather, natural disasters and seasonality; Cybersecurity violations or disruptions to the trading system; and fluctuations in the market value of our listed securities, including our ability to maintain compliance with the persistent listing requirements of the New York Stock Exchange. We undertake no obligation to update forward-looking statements, whether on the basis of new information, future events or other means, unless required by securities law. Newpark`s registrations with the Securities and Exchange Commission are available free of charge from www.sec.gov and through our website at www.newpark.com. Certain financial and operational results contained in this press release, including cash, debt and revenue, are based on estimated results.
Rights are exercised only if a person or group acquires 10% or more of the outstanding common shares of the company. All rights allows shareholders to purchase one thousandth of shares of a new series of junior preferred shares at an exercise price of $50.00.