Atlas Mara Limited, BVI-registered sub-Saharan African financial services group, on 3 November 2015 repurchased 20,000 shares, at a price of US$5.50. The shares, all of which will be held as treasury shares, have been repurchased pursuant to the authority granted by company’s Board of Directors to re-initiate share repurchase program. In accordance with the program, Atlas Mara Limited will seek to acquire up to US$10mln of its ordinary shares in the market.
As a result of share repurchase, company’s total amount of ordinary shares is 72,458,524; of them, 1,6888,559 shares are held in treasury. Atlas Mara has notified the market that the total number of voting rights in the company is 70,769,965.
Showing posts with label Share repurchase. Show all posts
Showing posts with label Share repurchase. Show all posts
Thursday, November 5, 2015
Wednesday, June 24, 2015
BVI corporation announced sale of its stake in Brainworks Capital
The sub-Saharan African financial services group, incorporated in the British Virgin Islands, Atlas Mara Limited, announced that it has sold its 10.1 percent stake in Brainworks Capital Management (Private) Limited, the Zimbabwe-focused private equity and advisory firm, for US$8.72mln.
ADC Financial Services & Corporate Development, which is an indirectly wholly-owned subsidiary of the BVI company, has agreed to sell its Brainworks stake for approximately US$3.1 million in cash and 665,195 Atlas Mara ordinary shares. The transaction is to be completed by 30 June 2015, subject to certain conditions.
ADC Financial Services & Corporate Development, which is an indirectly wholly-owned subsidiary of the BVI company, has agreed to sell its Brainworks stake for approximately US$3.1 million in cash and 665,195 Atlas Mara ordinary shares. The transaction is to be completed by 30 June 2015, subject to certain conditions.
Monday, January 26, 2015
Euro Tech announced stock repurchase
British Virgin Islands-registered company Euro Tech Holdings Company Limited made an announcement that its Board of Directors approved a share repurchase program, to repurchase up to 60,000 shares of issued and outstanding stock by January 21, 2016.
The stock buyback program provides the BVI company with the possibility to purchase shares in the open market, or through negotiated or block transactions based on market and business conditions during the next 12 months.
The stock buyback program provides the BVI company with the possibility to purchase shares in the open market, or through negotiated or block transactions based on market and business conditions during the next 12 months.
Friday, December 19, 2008
Euro Tech Holdings announces stock repurchase
BVI-registered Euro Tech Holdings Company Limited announced that its Board of Directors has approved a program to repurchase up to 300,000 shares of its issued and outstanding stock by the end of December, 2009.
The repurchase program will allow Euro Tech to buy the stock in the open market, or through negotiated or block transactions from time to time based on market and business conditions over the next 13 months.
T.C. Leung, Chairman and CEO of the BVI company, stated that the Board has a high degree of confidence in Euro Tech's future. He said the Board believes it is an appropriate investment of Euro Tech's excess cash, and that after the repurchase the company will have cash on hand for its day-to-day operations and planned projects.
The repurchase program will allow Euro Tech to buy the stock in the open market, or through negotiated or block transactions from time to time based on market and business conditions over the next 13 months.
T.C. Leung, Chairman and CEO of the BVI company, stated that the Board has a high degree of confidence in Euro Tech's future. He said the Board believes it is an appropriate investment of Euro Tech's excess cash, and that after the repurchase the company will have cash on hand for its day-to-day operations and planned projects.
Wednesday, October 1, 2008
Qiao Xing Mobile Communication announces $20 million share repurchase program
The BVI company Qiao Xing Universal Telephone Inc., one of the leading mobile phone manufacturers and distributors in China, said that its mobile telephone unit will begin a $20 million buyback program. The company will fund repurchases made under the program from available working capital.
Wu Zhi Yang, vice chairman of Universal Telephone and chairman of the mobile unit, noted in his statement concerning the buyback that it “reflects our ongoing commitment to increase shareholder value and confidence that the current share price levels do not reflect our current potential value.”
It is normal practice for companies to repurchase shares in case when they feel their stock is undervalued. Repurchasing stock takes company's shares out of circulation, increases the value of existing shares and the profits measured per-share. In case with BVI-registered Qiao Xing, the stock is 70% down since the beginning of the year.
Wu Zhi Yang, vice chairman of Universal Telephone and chairman of the mobile unit, noted in his statement concerning the buyback that it “reflects our ongoing commitment to increase shareholder value and confidence that the current share price levels do not reflect our current potential value.”
It is normal practice for companies to repurchase shares in case when they feel their stock is undervalued. Repurchasing stock takes company's shares out of circulation, increases the value of existing shares and the profits measured per-share. In case with BVI-registered Qiao Xing, the stock is 70% down since the beginning of the year.
Sunday, September 21, 2008
BVI-registered Qiao Xing announces Share Repurchase program
On September 2, 2008, BVI-registered company Qiao Xing Universal Telephone, Inc. (XING) repurchased US$25 mln of convertible notes from the investors - DKR SoundShore Oasis Holding Fund Ltd and CEDAR DKR Holding Fund Ltd. Upon the investors' request, the BVI company made available and wired USD$25 mln to them, within two weeks as of the Redemption Date. By words of Mr. Wu Ruilin, Chairman of XING, despite of the redemption the company still has sufficient cash to cover current operations.
Also, the board of directors of company's BVI-based subsidiary Qiao Xing Mobile Communication Co., Ltd. this week approved a share repurchase program. Under the terms of this program, Qiao Xing Mobile may repurchase up to an aggregate of US$20 mln worth of its issued and outstanding shares from time to time in open-market transactions on the NYSE Euronext. The BVI company expects to implement this program over the next 12 months.
Also, the board of directors of company's BVI-based subsidiary Qiao Xing Mobile Communication Co., Ltd. this week approved a share repurchase program. Under the terms of this program, Qiao Xing Mobile may repurchase up to an aggregate of US$20 mln worth of its issued and outstanding shares from time to time in open-market transactions on the NYSE Euronext. The BVI company expects to implement this program over the next 12 months.
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