ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

RTK Rentech, Inc.

0.20
0.00 (0.00%)
25 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Rentech, Inc. NASDAQ:RTK NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.20 0.195 0.205 0 01:00:00

Rentech Announces Share Repurchase Program of Up to $25 million

27/02/2012 12:00pm

Business Wire


Rentech, Inc. (NASDAQ:RTK)
Historical Stock Chart


From Jul 2019 to Jul 2024

Click Here for more Rentech, Inc. Charts.

Rentech, Inc. (NYSE AMEX: RTK) today announced that its Board of Directors has authorized the repurchase of up to $25 million of its outstanding common shares.

"We believe that the repurchase of our common stock at attractive prices is a good investment, and highlights our commitment to use our capital to maximize value for our shareholders," said D. Hunt Ramsbottom, President and Chief Executive Officer of Rentech. Mr. Ramsbottom continued, "We believe we have ample resources to fund this program while maintaining the financial flexibility to invest in our growth initiatives. We remain committed to maintaining a strong balance sheet and we are confident in our future growth prospects and ability to drive long-term value for our shareholders."

The share repurchase program will be funded by the Company’s available cash. Rentech may buy shares in the open market or through privately negotiated transactions from time to time over the next 12 months as permitted by federal securities laws and other legal requirements. The timing, manner, price and amount of any repurchases will be determined by Rentech in its discretion and will be subject to economic and market conditions, stock price and other factors and compliance with applicable legal requirements. The plan does not obligate Rentech to acquire any particular amount of common stock, and can be implemented, suspended or discontinued at any time without prior notice at the Company's sole discretion.

About Rentech, Inc.

Rentech, Inc. (www.rentechinc.com) owns and develops technologies that enable the production of certified synthetic fuels and renewable power when integrated with certain other third-party technologies. The Company’s clean energy technology portfolio includes the Rentech-SilvaGas biomass gasification technology and the Rentech-ClearFuels biomass gasification technology, both of which can produce synthesis gas from biomass and waste materials for production of renewable power and fuels. The Rentech-ClearFuels gasifier can also produce renewable hydrogen as a product. Rentech also owns the patented Rentech Process which is based on Fischer-Tropsch chemistry. The Rentech Process can convert syngas from the Company’s own or other gasification technologies into complex hydrocarbons that then can be upgraded into fuels or chemicals using refining technology that we license.

Rentech also owns, through its wholly owned subsidiaries, the general partner interest and approximately 61% of the common units representing limited partner interests in Rentech Nitrogen Partners, L.P. (www.rentechnitrogen.com), a publicly traded limited partnership. Rentech Nitrogen Partners, L.P. manufactures and sells nitrogen fertilizer products including ammonia, urea ammonia nitrate, granular urea and urea liquor in the Mid Corn Belt region of the United States.

Safe Harbor Statement

This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995 about matters such as statements concerning maximizing shareholder value through the repurchase of the Company’s shares, the repurchase of common stock to be an efficient use of capital and the Company’s future growth prospects. These statements are based on management’s current expectations and actual results may differ materially as a result of various risks and uncertainties. Other factors that could cause actual results to differ from those reflected in the forward-looking statements are set forth in the Company’s prior press releases and periodic public filings with the Securities and Exchange Commission, which are available via Rentech’s website at www.rentechinc.com. The forward-looking statements in this press release are made as of the date of this press release and Rentech does not undertake to revise or update these forward-looking statements, except to the extent that it is required to do so under applicable law.

1 Year Rentech, Inc. Chart

1 Year Rentech, Inc. Chart

1 Month Rentech, Inc. Chart

1 Month Rentech, Inc. Chart