Keane Group, Inc. ("Keane") (NYSE:FRAC) today announced that Mr. James
Stewart, its Chairman and Chief Executive Officer, and Mr. Greg Powell,
its President and Chief Financial Officer, each recently adopted a
prearranged trading plan in accordance with guidelines specified by Rule
10b5-1 under the Securities and Exchange Act of 1934, as amended, as
well as Keane’s insider trading policy.
Rule 10b5-1 allows officers and directors to adopt written, prearranged
stock trading plans when they are not in possession of material
non-public information. Once established, officers do not retain or
exercise any discretion over sales of stock under the plan and the
pre-planned trades can be executed at a later date as prescribed by the
plan in order to diversify the plan participant’s investment portfolio,
without regard to any subsequent material non-public information that
the plan participant may receive. The transactions under these plans
will be disclosed publicly through Form 144 and Form 4 filings with the
Securities and Exchange Commission.
The purpose of the plans is to provide Mr. Stewart and Mr. Powell, who
receive substantial portions of their compensation in the form of equity
awards, with the ability to sell vested shares periodically in an
orderly manner and to avoid concerns about the timing of those
transactions. Under the terms of the plans, purchases can be made from
time to time starting April 18, 2018 through December 31, 2018 and may
be amended in accordance with the plan.
About Keane Group, Inc.
Headquartered in Houston, Texas, Keane is one of the largest pure-play
providers of integrated well completion services in the U.S., with a
focus on complex, technically demanding completion solutions. Keane's
primary service offerings include horizontal and vertical fracturing,
wireline perforation and logging, engineered solutions and cementing, as
well as other value-added service offerings.
Forward-Looking Statements
The statements contained in this release that are not historical
facts are forward-looking statements as defined in the Private
Securities Litigation Reform Act of 1995. Words such as “may,” “will,”
“could,” “should,” “expect,” “plan,” “project,” “intend,” “anticipate,”
“believe,” “estimate,” “predict,” “potential,” “pursuant,” “target,”
“continue,” and similar expressions are intended to identify such
forward-looking statements. The statements in this press release that
are not historical statements, including statements regarding Keane's
plans, objectives, future opportunities for Keane's services, future
financial performance and operating results and any other statements
regarding Keane's future expectations, beliefs, plans, objectives,
financial conditions, assumptions or future events or performance that
are not historical facts, are forward-looking statements within the
meaning of the federal securities laws. These statements are subject to
numerous risks and uncertainties, many of which are beyond Keane's
control, which could cause actual results to differ materially from the
results expressed or implied by the statements. These risks and
uncertainties include, but are not limited to the operations of Keane;
the anticipated funding and expected delivery of the newbuild fleets;
the effects of the business combination of Keane and RockPile, including
the combined company’s future financial condition, results of
operations, strategy and plans; potential adverse reactions or changes
to business relationships resulting from the completion of the RockPile
transaction; expected synergies and other benefits from the transaction
and the ability of Keane to realize such synergies and other benefits;
results of litigation, settlements and investigations; actions by third
parties, including governmental agencies; volatility in customer
spending and in oil and natural gas prices, which could adversely affect
demand for Keane's services and their associated effect on rates,
utilization, margins and planned capital expenditures; global economic
conditions; excess availability of pressure pumping equipment, including
as a result of low commodity prices, reactivation or construction;
liabilities from operations; weather; decline in, and ability to
realize, backlog; equipment specialization and new technologies;
shortages, delays in delivery and interruptions of supply of equipment
and materials; ability to hire and retain personnel; loss of, or
reduction in business with, key customers; difficulty with growth and in
integrating acquisitions; product liability; political, economic and
social instability risk; ability to effectively identify and enter new
markets; cybersecurity risk; dependence on our subsidiaries to meet our
long-term debt obligations; variable rate indebtedness risk; and
anti-takeover measures in our charter documents.
Additional information concerning factors that could cause actual
results to differ materially from those in the forward-looking
statements is contained from time to time in Keane's SEC filings,
including the most recently filed Forms 10-Q and 10-K. and Keane's
Registration Statement on Form S-1, including the preliminary
prospectus, filed with the SEC on January 16, 2018. Keane undertakes no
obligation to publicly update or revise any forward-looking statement.
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