P.A.M. Transportation Services, Inc. Announces Preliminary Results of its Self Tender Offer

P.A.M. Transportation Services, Inc. Announces Preliminary Results of its Self
Tender Offer

TONTITOWN, Ark., Dec. 31, 2013 (GLOBE NEWSWIRE) -- P.A.M. Transportation
Services, Inc. (Nasdaq:PTSI) (the "Company") today announced the preliminary
results of its modified "Dutch auction" tender offer to repurchase up to
600,000 shares of its outstanding common stock, which expired at 12:00
Midnight, Eastern Time, on Monday, December 30, 2013.

Based on the preliminary count by Computershare Trust Company, N.A.
("Computershare"), the depositary for the tender offer, approximately 758,864
shares were properly tendered and not properly withdrawn at or below the
expected final purchase price of $20.50 per share, including shares that were
tendered through notices of guaranteed delivery.

In accordance with the terms and conditions of the tender offer, the Company
expects to acquire675,000 shares at a final purchase price of $20.50 per
share, for an aggregate purchase price of approximately $13,837,500.These
shares represent approximately 7.8% of the Company's issued and outstanding
shares as of November 29, 2013. The total amount of shares expected to be
purchased in the tender offer includes the Company's right to increase the
tender offer by up to two percent of our outstanding shares. The determination
of the final number of shares to be purchased and the final price per share is
subject to confirmation by Computershare of the proper delivery of the shares
validly tendered and not withdrawn.

Due to the oversubscription of the tender offer, the Company expects to accept
for purchase approximately 88.9% of the shares properly tendered and not
properly withdrawn at or below the purchase price of $20.50 per share by each
tendering shareholder.

The number of shares to be purchased and the price per share are preliminary
and are subject to verification by Computershare and subject to change for a
number of reasons, including if some or all of the shares tendered through
notices of guaranteed delivery are not delivered within the applicable three
trading day settlement period.The actual number of shares to be purchased and
the final price per sharewill be announced following the expiration of the
guaranteed delivery period and completion of the confirmation process by
Computershare, and are not expected to be announced until at least January 3,
2014.Promptly after such announcement, Computershare will issue payment for
the shares validly tendered and accepted for payment under the tender offer
and will return shares tendered and not purchased in the tender offer.

The Company may purchase additional shares in the future in the open market
subject to market conditions and private transactions, tender offers or
otherwise.Under applicable securities laws, however, the Company may not
repurchase any shares until January 14, 2014.Whether the Company makes
additional repurchases in the future will depend on many factors, including
the number of shares purchased in this tender offer, its business and
financial performance and situation, the business and market conditions at the
time, including the price of the shares, and other factors the company
considers relevant.

The Company has retained Georgeson Inc., as the information agent and all
questions regarding the tender offer should be directed to Georgeson at
(866)482-4943 (toll free) or (800)223-2064 (banks and brokers).

Note Regarding Forward-Looking Statements

Certain information included in this document contains or may contain
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements may relate to
expected future financial and operating results or events, and are thus
prospective. Such forward-looking statements are subject to risks,
uncertainties and other factors which could cause actual results to differ
materially from future results expressed or implied by such forward-looking
statements. Potential risks and uncertainties include, but are not limited to,
excess capacity in the trucking industry; surplus inventories; recessionary
economic cycles and downturns in customers' business cycles; increases or
rapid fluctuations in fuel prices, interest rates, fuel taxes, tolls, license
and registration fees; the resale value of the Company's used equipment and
the price of new equipment; increases in compensation for and difficulty in
attracting and retaining qualified drivers and owner-operators; increases in
insurance premiums and deductible amounts relating to accident, cargo,
workers' compensation, health, and other claims; unanticipated increases in
the number or amount of claims for which the Company is self insured;
inability of the Company to continue to secure acceptable financing
arrangements; seasonal factors such as harsh weather conditions that increase
operating costs; competition from trucking, rail, and intermodal competitors
including reductions in rates resulting from competitive bidding; the ability
to identify acceptable acquisition candidates, consummate acquisitions, and
integrate acquired operations; a significant reduction in or termination of
the Company's trucking service by a key customer; and other factors, including
risk factors, included from time to time in filings made by the Company with
the Securities and Exchange Commission. The Company undertakes no obligation
to publicly update or revise forward-looking statements, whether as a result
of new information, future events or otherwise. In light of these risks and
uncertainties, the forward-looking events and circumstances discussed above
and in company filings might not transpire.

CONTACT: P.A.M. TRANSPORTATION SERVICES, INC.
         P.O. BOX 188
         Tontitown, AR 72770
         Allen W. West
         (479) 361-9111

company logo
 
Press spacebar to pause and continue. Press esc to stop.