LONDON, Aug. 3, 2021 /PRNewswire/ -- Clarivate Plc
(NYSE: CLVT; CLVT PR A), a global leader in providing trusted
information and insights to accelerate the pace of innovation,
today announced that its Board of Directors has approved the
purchase of up to $250 million of the
Company's ordinary shares through open-market purchases, to be
executed through October 31,
2021.
"Our Board is confident in both our short and long-term growth
prospects and believes repurchasing our shares represents an
attractive investment opportunity," said Jerre Stead, Executive Chairman and CEO. "We are
generating strong earnings and cash flow, which is providing us
with the resources to support organic growth, pursue value-creating
M&A and fund our debt."
The Company expects to fund the purchases with existing cash
balances.
Forward-Looking Statements
This communication contains "forward-looking statements" as
defined in the Private Securities Litigation Reform Act of 1995.
These statements, which express management's current views
concerning future business, events, trends, contingencies,
financial performance, or financial condition, appear at various
places in this communication and may use words like "aim,"
"anticipate," "assume," "believe," "continue," "could," "estimate,"
"expect," "forecast," "future," "goal," "intend," "likely," "may,"
"might," "plan," "potential," "predict," "project," "see," "seek,"
"should," "strategy," "strive," "target," "will," and "would" and
similar expressions, and variations or negatives of these words.
Examples of forward-looking statements include, among others,
statements we make regarding: guidance outlook and predictions
relating to expected operating results, such as revenue growth and
earnings; our expectations around our ability to consummate our
pending acquisition of ProQuest, which is subject to customary
closing conditions including receipt of approval under the
Hart-Scott-Rodino Antitrust Improvements Act of 1976; strategic
actions such as acquisitions, joint ventures, and dispositions,
including the anticipated benefits therefrom, and our success in
integrating acquired businesses; anticipated levels of capital
expenditures in future periods; our ability to successfully realize
cost savings initiatives and transition services expenses; our
belief that we have sufficiently liquidity to fund our ongoing
business operations; expectations of the effect on our financial
condition of claims, litigation, environmental costs, the COVID-19
pandemic and governmental responses thereto, contingent
liabilities, and governmental and regulatory investigations and
proceedings; and our strategy for customer retention, growth,
product development, market position, financial results, and
reserves. Forward-looking statements are neither historical facts
nor assurances of future performance. Instead, they are based only
on management's current beliefs, expectations, and assumptions
regarding the future of our business, future plans and strategies,
projections, anticipated events and trends, the economy, and other
future conditions. Because forward-looking statements relate to the
future, they are difficult to predict and many of which are outside
of our control. Important factors that could cause our actual
results and financial condition to differ materially from those
indicated in the forward-looking statements include those factors
discussed under the caption "Risk Factors" in our 2020 annual
report on Form 10-K/A, along with our other filings with the U.S.
Securities and Exchange Commission ("SEC"). However, those factors
should not be considered to be a complete statement of all
potential risks and uncertainties. Additional risks and
uncertainties not known to us or that we currently deem immaterial
may also impair our business operations. Forward-looking statements
are based only on information currently available to our management
and speak only as of the date of this communication. We do not
assume any obligation to publicly provide revisions or updates to
any forward-looking statements, whether as a result of new
information, future developments or otherwise, should circumstances
change, except as otherwise required by securities and other
applicable laws. Please consult our public filings with the SEC or
on our website at www.clarivate.com.
About Clarivate
Clarivate™ is a global leader in providing solutions to
accelerate the lifecycle of innovation. Our bold mission is to help
customers solve some of the world's most complex problems by
providing actionable information and insights that reduce the time
from new ideas to life-changing inventions in the areas of science
and intellectual property. We help customers discover, protect and
commercialize their inventions using our trusted subscription and
technology-based solutions coupled with deep domain
expertise. For more information, please visit
clarivate.com.
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