Exxe Group Board of Directors Authorizes and Approves Common Share Repurchase Plan

Rhea-AI Summary

Exxe Group announces the establishment of a Common Share Repurchase Plan (CSRP) and a dedicated bank account for share repurchases at TDBank. The company expects the CSRP to improve the capital structure and strengthen the financial foundation.

Positive

• The establishment of the Common Share Repurchase Plan (CSRP) could positively impact the stock price by improving the capital structure and strengthening the financial foundation.

Negative

• None.

• Board approves and authorizes a Common Share Repurchase Plan (CSRP)
• Instructs the establishment of a dedicated CSRP bank account at TDBank
• The company anticipates resulting improvements to the capital structure

NEW YORK, NY / ACCESSWIRE / October 18, 2023 / Exxe Group, Inc. (OTC PINK:AXXA), ("Exxe" or the "Company"), a diversified fintech acquisitions company, is pleased to announce its Board of Directors has passed Board Resolutions that authorize and create an Exxe Common Share Repurchase Plan (the "CSRP").

As part of the CSRP, the Exxe Board has granted authorization and instructed the Executive Management team to establish a dedicated bank account at TDBank with funds exclusively earmarked for Exxe Common Share repurchases.

The Common Share Repurchase Plan will allow the Company to initiate repurchases of Exxe Group Common Shares at the Company's discretion. Establishing the dedicated bank account now ensures funds will be available for use to execute share repurchases subsequent to market announcements.

The Board has also reviewed the entire plan to ensure that the CSRP is fully aligned with the long-term vision of improving shareholder value. The Board anticipates the CSRP to result in improvements to the Company's capital structure, as well as to strengthen the company's financial foundation.

Further information about the Common Share Repurchase Plan will be presented in Exxe Group's Second Quarter (2Q2024) Report. The Report is currently scheduled for a release window sometime between November 15-18, 2023.

Dr. Eduard Nazmiev, CEO of Exxe Group stated: "The Common Share Repurchase Fund strategy is part of a broader initiative intended to deliver improvements for both shareholders and the Company as a whole. The CSRP underscores our unwavering commitment to enhancing shareholder value, while maintaining a responsible approach to capital allocation. We firmly believe that this initiative perfectly aligns with our long-term vision and steadfast commitment to prudent financial management."

The Company plans to release additional information on the CSRP following the Second Quarter Report.

About Exxe Group

Exxe Group Exxe is a diversified fintech company with assets in real estate, architectural design, automotive, medical, media, agriculture, and trading technology. Exxe Group acquires controlling equity interests in undervalued assets and undertakes an active role in improving their performance - accelerating their growth by providing both access to capital and management expertise. For additional information please visit the Company's:

Website: http://www.exxegroup.com/

Twitter: https://twitter.com/exxegroup

Forward-Looking Statements:

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainties and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release.

CONTACT:

Exxe Group IR: info@exxegroup.com

SOURCE: Exxe Group, Inc.

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https://www.accesswire.com/794196/exxe-group-board-of-directors-authorizes-and-approves-common-share-repurchase-plan

FAQ

What is the Common Share Repurchase Plan (CSRP)?

The CSRP is a plan that allows the company to repurchase its own shares at its discretion.

What is the purpose of establishing a dedicated bank account for share repurchases?

Establishing a dedicated bank account ensures that funds are available for share repurchases.

When will more information about the CSRP be released?

More information about the CSRP will be presented in Exxe Group's Second Quarter (2Q2024) Report, scheduled for release between November 15-18, 2023.

What is the CEO's statement regarding the CSRP?

The CEO stated that the CSRP is part of a broader initiative to enhance shareholder value and maintain responsible capital allocation.