Cloud Peak Energy Adopts Tax Benefit Preservation Plan for Net Operating Losses
CLOUD PEAK ENERGY (CLD)
Last cloud peak energy earnings: 3/15 06:04 am
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US:NYSE Investor Relations:
investor.cloudpeakenergy.com
Company Research
Source: Business Wire
GILLETTE, Wyo.--(BUSINESS WIRE)-- Cloud Peak Energy Inc. (NYSE: CLD) (the “Company”) announced today that its Board of Directors (the “Board”) has adopted a Stockholder Rights Plan (the “Rights Plan”) designed to preserve its substantial federal net operating loss carryforwards (“NOLs”) and other tax carryforwards, which can be utilized in certain circumstances to offset future U.S. taxable income. As of December 31, 2018, the Company had estimated federal NOLs and other tax carryforwards of approximately $300 million. The Board adopted the Rights Plan, which is intended to protect the Company’s tax benefits, after considering, among other matters, the estimated potential value of the Company’s tax benefits, the potential for diminution of those tax benefits upon certain ownership changes of 5% stockholders and the risk of such an ownership change occurring due to the volatility and trading activity
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