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(“Veolia”) relating to the Clearwater Facility.
−Removed: On March 13, 2020, Antero Treatment LLC (“Antero Treatment”), a wholly owned subsidiary of the Company, filed suit against Veolia in the district court of Denver County, Colorado, asserting claims of fraud, breach of contract and other related claims.
+Added: On March 13, 2020, Antero Treatment, a wholly owned subsidiary of the Company, filed suit against Veolia in the district court of Denver County, Colorado, asserting claims of fraud, breach of contract and other related claims.
Antero Treatment alleges that Veolia failed to meet its contractual obligations to design and build a “turnkey” wastewater disposal facility under a Design/Build Agreement dated August 18, 2015 (the “DBA”), and that Veolia fraudulently concealed certain miscalculations and design flaws during contract negotiations and continued to conceal and fraudulently misrepresent the impact of certain design changes post-execution of the DBA.
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Veolia and the Antero Defendants each filed partial motions to dismiss and motions for summary judgment directed at certain claims asserted by the opposing party.
−Removed: A bench trial on the remaining claims is occurring from January 24 through February 10, 2022 and on February 24, 2022.
+Added: A bench trial on the remaining claims was held from January 24 through February 10, 2022 and concluded on February 24, 2022.
At trial, Antero Treatment sought damages from Veolia of approximately $450 million, which represents the Company’s out-of-pocket costs associated with the Clearwater Facility project.
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Also, at trial, Veolia sought monetary damages of approximately $118 million, including alleged delay and extra-contractual costs and a contract balance relating to an allegation that Antero Defendants improperly terminated the DBA.
−Removed: The Antero Defendants vigorously deny Veolia’s claims.
−Removed: A final judgment on the claims has not yet been rendered.
+Added: On January 3, 2023, the Court found that Antero Treatment had prevailed on its claims for breach of contract and fraud, and awarded approximately $242 million in damages to Antero Treatment, plus pre- and post-judgment interest and reasonable costs and attorneys’ fees.
+Added: The Court also found in Antero Defendants’ favor on all of Veolia’s affirmative claims.
+Added: On January 27, 2023 the Court entered judgment in favor of Antero Treatment in the amount of $309,183,975 in damages, which includes pre-judgment interest.
+Added: Antero was also awarded costs and attorneys’ fees, the amount of which will be determined in separate proceedings.
+Added: The judgment remains subject to appeal and applicable post-judgment proceedings.
Mine Safety Disclosure s
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Issuer Purchases of Equity Securities
−Removed: The following table sets forth our common stock repurchase activity for each period presented:
+Added: The following table sets forth our common stock share purchase activity for each period presented:
Total Number of
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During the three months ended December 31, 2022, we did not make any repurchases under this program.
+Added: Our share repurchase program will be subject to the new 1% excise tax on stock repurchases imposed under the IRA 2022 for all repurchases on or after January 1, 2023.
On January 11, 2023, the Board declared an aggregate cash dividend on the shares of our common stock of $0.2250 per share for the quarter ended December 31, 2022.
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As of December 31, 2022, there were dividends in the amount of $69 thousand accumulated in arrears on our Series A Preferred Stock.
+Added: The amount and timing of future payment of cash dividends on our common stock, if any, is within the discretion of the Board and will depend on our earnings, capital requirements, financial condition and other relevant factors
Stock Performance Graph
−Removed: The graph below shows the cumulative total shareholder return assuming the investment of $100 on May 4, 2017, the date of our initial public offering, in each of our predecessor’s, AMGP, common shares through March 12, 2019 and our common stock thereafter, the Standard & Poor’s 500 (“S&P 500”) Index and the Alerian Midstream Energy (“AMNA”) Index.
+Added: The graph below shows the cumulative total shareholder return assuming the investment of $100 on December 31, 2017, in each of (i) our predecessor’s, AMGP, common shares through March 12, 2019 and our common stock thereafter (assuming reinvestment of dividends), (ii) the Standard & Poor’s 500 (“S&P 500”) Index and (iii) the Alerian Midstream Energy (“AMNA”) Index.
We believe the AMNA Index is meaningful because it is an independent, objective view of the performance of similarly-sized midstream energy companies.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.