Aerojet Rocketdyne Holdings, Inc. Board of Directors Approves New $100 Million Share Repurchase Program
EL SEGUNDO, Calif., March 13, 2020 (GLOBE NEWSWIRE) -- Aerojet
Rocketdyne Holdings, Inc. (NYSE:AJRD) (the “Company”) today announced
that its Board of Directors authorized and approved a new share repurchase
program allowing the Company to repurchase its outstanding common stock
with an aggregate market value of up to $100 million, from time to time,
over a period of up to 18 months.
Management has discretion as to whether any repurchase may be under the share repurchase program. The timing of any share repurchases will be based on available liquidity, cash flows and general market conditions. The repurchase program may be executed through various methods, including open market purchases or privately negotiated transactions.
Forward-Looking
Statements
This release contains certain “forward-looking
statements” within the meaning of the United States Private Securities
Litigation Reform Act of 1995. Such statements in this release and in
subsequent discussions with the Company’s management are based on
management’s current expectations and are subject to risks, uncertainty
and changes in circumstances, which could cause actual results, performance
or achievements to differ materially from anticipated results, performance
or achievements. All statements contained herein and in subsequent
discussions with the Company’s management that are not clearly historical
in nature are forward-looking and the words “anticipate,”
“believe,” “expect,” “estimate,” “plan,” and similar
expressions are generally intended to identify forward-looking
statements.
Actual events or the actual future results of the Company may differ materially from any forward-looking statement due to these and other risks, uncertainties and significant factors. The forward-looking statements speak only as of the date of this release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement included in this release to reflect any changes in expectations with regard thereto or any changes in events, conditions, or circumstances on which any such statement is based.
About Aerojet Rocketdyne Holdings,
Inc.
Aerojet Rocketdyne Holdings, Inc., headquartered in El
Segundo, California, is an innovative technology-based manufacturer of
aerospace and defense products and systems, with a real estate segment that
includes activities related to the entitlement, sale, and leasing of the
Company’s excess real estate assets. More information can be obtained by
visiting the Company’s websites at www.rocket.com or www.aerojetrocketdyne.com.
Contact
information:
Investors: Kelly Anderson, investor relations
310-252-8155
