ADA-ES, Inc. (NASDAQ: ADES) (“ADA” or the “Company”) is pleased to announce the appointment of Kim B. Clarke to the Company’s Board of Directors. Ms. Clarke, an independent director, will be a member of the Compensation, and Nominating and Governance Committees of the Board. Ms. Clarke’s term will run until ADA’s next annual meeting of shareholders at which directors are elected. Ms. Clarke and Alan Bradley Gabbard, who was appointed to the Board in November 2012, will be members of a slate of nine directors that the Board plans to propose at the next annual meeting of shareholders. In connection with proposing this slate of nine directors, the Board plans to reduce the size of the board from 11 directors to nine to reflect the retirement of two current directors effective as of such meeting. Ms. Clarke has over 35 years of experience in human resources, safety and information technology, and has significant experience in energy and a number of service industries. Ms. Clarke has served as Senior Vice President and Chief Administrative Officer of Key Energy Services, Inc. (NYSE: KEG) since 2008 and served as Vice President and Chief People Officer from 2004 through 2007. Prior to Key Energy Services, Inc., she served as the Vice President of Human Resources for GC Services LP and Vice President Human Resources for Browning-Ferris Industries. Ms. Clarke received a Bachelor of Science degree in human resources from the University of Houston in 1982 and completed the Director Development Program at the Kellogg School of Management at Northwestern University. She currently serves as Chairperson of the University of Houston College of Technology Dean’s Board of Advisors. Refined Coal The Company is currently operating eight Refined Coal (RC) facilities, four of which are leased to two different RC investors. ADA continues to expect to complete a contract for a fifth RC facility with a new RC investor later this month, which will follow the completion of a debt restructuring associated with the sale of the power plant where this RC facility is operating.
Investors considering a purchase of Advanced Emissions Solutions Inc shares, but tentative about paying the going market price of $21.87/share, might benefit from considering selling puts among the alternative strategies at their disposal. One interesting put contract in particular, is the April put at the $20 strike, which has a bid at the time of this writing of $1.20.
In trading on Friday, shares of Advanced Emissions Solutions Inc crossed above their 200 day moving average of $21.66, changing hands as high as $21.70 per share. Advanced Emissions Solutions Inc shares are currently trading up about 4.5% on the day.