- Montauk Renewables (MNTK, Financial) has initiated a $5 million share repurchase program.
- The program is flexible, allowing for suspension or modification based on market conditions and other factors.
- There is no obligation for the company to repurchase a specific number of shares, with no set expiration date.
Montauk Renewables, Inc. (MNTK), a leader in renewable energy, has announced the authorization of a new share repurchase program by its Board of Directors. This program permits the repurchase of up to $5 million of the company's common stock, which will commence immediately with no designated termination date.
The repurchase initiative by Montauk Renewables can be executed through open market transactions or privately negotiated deals, adhering to federal securities laws. The process will be managed by a dedicated Repurchase Committee, consisting of Board members and company management, who will decide on the timing, quantity, and purchase price of the shares.
This program offers the flexibility to be suspended, adjusted, or even terminated based on market conditions, the cost of repurchases, alternative investment opportunities, and the company’s liquidity. Montauk Renewables clarifies that the program does not impose an obligation to buy a specific amount of shares, and there is no guarantee that shares will be repurchased under the program.
With more than 30 years of expertise in renewable energy projects utilizing landfill methane, Montauk Renewables captures methane emissions and converts them into renewable natural gas (RNG) or renewable electricity. The company operates from its headquarters in Pittsburgh, Pennsylvania, and is involved in projects across numerous states, including California, Idaho, and Texas.
