Montauk Renewables, Inc. Announces Share Repurchase Program
Rhea-AI Summary
Montauk Renewables (NASDAQ: MNTK) has announced a new share repurchase program authorized by its Board of Directors. The program allows for the repurchase of up to $5 million of the company's outstanding common stock, effective immediately with no termination date.
The repurchases can be executed through open market transactions or privately negotiated transactions, subject to federal securities laws. A dedicated Repurchase Committee, consisting of Board members and management, will determine the timing, quantity, and purchase price of shares.
The program includes flexibility to be suspended, terminated, or modified based on various factors including market conditions, alternative investment opportunities, and liquidity. The company emphasizes that the program does not obligate them to purchase any specific number of shares, and there is no guarantee that purchases will occur.
Positive
- Authorization of $5 million share repurchase program indicates confidence in company's financial position
- Flexible program structure allows optimization of purchase timing and price
- No expiration date provides extended opportunity for strategic repurchases
Negative
- Relatively small buyback amount may limit meaningful impact on share price
- No guarantee of actual share repurchases being executed
- Capital allocated to buyback reduces funds available for business operations or growth initiatives
News Market Reaction 1 Alert
On the day this news was published, MNTK gained 5.03%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
PITTSBURGH, April 15, 2025 (GLOBE NEWSWIRE) -- Montauk Renewables, Inc. (NASDAQ: MNTK) (“Montauk” or the “Company”), announced today that the Company's Board of Directors has authorized a share repurchase program to repurchase up to
Repurchases under the program may be made through open market transactions, privately negotiated transactions or otherwise in accordance with applicable federal securities laws. The timing, number and purchase price of shares repurchased under the program, if any, will be determined by a Repurchase Committee, comprised of Board members and management.
The repurchase program may be suspended, terminated or modified at any time for any reason, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity, and other factors deemed appropriate. These factors may also affect the timing and amount of share repurchases. The repurchase program does not obligate the Company to purchase any number of shares and there is no assurance that purchases will take place under the program.
About Montauk Renewables, Inc.
Montauk Renewables, Inc. (NASDAQ: MNTK) is a renewable energy company specializing in the management, recovery and conversion of biogas into RNG. The Company captures methane, preventing it from being released into the atmosphere, and converts it into either RNG or electrical power for the electrical grid (“Renewable Electricity”). The Company, headquartered in Pittsburgh, Pennsylvania, has more than 30 years of experience in the development, operation and management of landfill methane-fueled renewable energy projects. The Company has operations at 13 projects and ongoing development projects located in California, Idaho, Ohio, Oklahoma, Pennsylvania, North Carolina, South Carolina, and Texas. The Company sells RNG and Renewable Electricity, taking advantage of Environmental Attribute premiums available under federal and state policies that incentivize their use. For more information, visit https://ir.montaukrenewables.com.
Company Contact:
John Ciroli
Chief Legal Officer (CLO) & Secretary
investors@montaukrenewables.com
(412) 747-8700
Investor Relations Contact:
Georg Venturatos
Gateway Group
MNTK@Gateway-grp.com
(949) 574-3860
Forward Looking Statement
This press release contains forward-looking statements including, among other things, statements regarding share repurchases. Any forward-looking statements contained in this press release represent our estimates, expectations or intentions only as of the date hereof, and should not be relied upon as representing our views as of any subsequent date. These statements involve a number of risks, assumptions and uncertainties. If the risks materialize, assumptions prove incorrect, or we experience unexpected changes in circumstances, actual results could differ materially from the results implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, expectations of the economic environment, material adverse changes in economic conditions, alternative uses of capital, and the other risks contained in our other public disclosures discussing our business and financial condition and results. As a result, we caution against placing undue reliance on any forward-looking statement. For information on potential risks and uncertainties that could cause actual results to differ, please see the “Risks Factors” section of our annual report on Form 10-K for the year ended December 31, 2024 and subsequent quarterly reports and other filings filed with the Securities and Exchange Commission from time to time. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so.
FAQ
How much is Montauk Renewables (MNTK) authorized to repurchase in their new buyback program?
When does MNTK's share repurchase program expire?
How will MNTK execute its share repurchase program?
Who controls the implementation of MNTK's share buyback program?
Is MNTK obligated to buy back the full $5 million in shares?
