WARREN, Ohio, July 30, 2018 /PRNewswire/ -- Avalon Holdings
Corporation (NYSE American: AWX) ("Avalon" or the "Company")
has announced today that the Company has received numerous
inquiries regarding recent trading activity in the Company's
stock. The Company has reviewed the Form 3 filed with the
Securities and Exchange Commission on July
27, 2018. The entity filing the Form 3 is not
affiliated with the Company and Avalon has no information about
that entity's intentions regarding its holdings.
In response to inquiries regarding a potential change in
control, Mr. Ronald Klingle,
Chairman and Chief Executive Officer of the Company, holds
approximately 67% of the voting power in Avalon, and has advised
the Company that he has no present plans to divest any of his
holdings. Further information regarding the voting rights of the
Company's shareholders is included in the Company's filings with
the Securities and Exchange Commission, including its most recent
proxy statement filed on March 16,
2018.
While the Company is confident in its business plan, it has made
no recent material changes to that plan and is unaware of any
information or events that would warrant the stock activity over
the last five days other than the purchases disclosed in the Form
3.
Avalon Holdings Corporation provides waste management services
to industrial, commercial, municipal and governmental customers in
selected northeastern and midwestern U.S. markets, captive landfill
management services and salt water injection well operations.
Avalon Holdings Corporation also owns Avalon Resorts and Clubs
Inc., which includes the operation of a hotel and its associated
amenities, three golf courses and related country clubs and
facilities.
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SOURCE Avalon Holdings Corporation