Magic empire global limited announces us$2 million share repurchase plan

Hong kong, sept. 13, 2023 (globe newswire) -- magic empire global limited (nasdaq: megl) (“megl”, or the “company”) announced that its board of directors has authorized a share repurchase plan under which the company may repurchase up to us$2 million of its shares over the next 12 months. the share repurchases may be made from time to time in the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable securities laws and regulations, including rule 10b-18 under the securities exchange act of 1934, as amended. the company expects to fund repurchases made under this plan from its existing funds. the timing and amount of the share repurchases made pursuant to the program will be decided by the company based on its evaluation of market conditions and be subject to various factors, including the company's capital position, liquidity, financial performance and alternative uses of capital, stock trading price, regulatory requirements and general market conditions. this repurchase authorization does not obligate the company to acquire any specific number of shares or securities and may be modified, suspended or discontinued at any time. megl's board of directors will review the share repurchase plan periodically, and may authorize adjustment of its terms and size.
MEGL Ratings Summary
MEGL Quant Ranking