Cheer Holding Announces US$50 Million Share Repurchase Authorization
Cheer Holding (NASDAQ: CHR) has announced a $50 million share repurchase program authorized by its board of directors, spanning over the next 36 months. The company may repurchase its Class A ordinary shares through open market or private transactions, following Rule 10b-18 regulations. The repurchases will be conducted under Rule 10b5-1 trading plans, allowing shares to be bought during blackout periods. Management will determine timing, amount, and method based on market conditions, share price, and legal requirements. The board will review the program periodically and maintains the right to adjust or discontinue it.
Cheer Holding (NASDAQ: CHR) ha annunciato un programma di riacquisto di azioni da 50 milioni di dollari autorizzato dal suo consiglio di amministrazione, che si estenderà nei prossimi 36 mesi. L'azienda potrà riacquistare le proprie azioni ordinarie di Classe A attraverso operazioni sul mercato aperto o transazioni private, conformemente alle normative previste dalla Regola 10b-18. I riacquisti saranno effettuati secondo i piani di trading previsti dalla Regola 10b5-1, permettendo l'acquisto di azioni durante i periodi di blocco. La direzione determinerà il momento, l'importo e il metodo in base alle condizioni di mercato, al prezzo delle azioni e ai requisiti legali. Il consiglio esaminerà periodicamente il programma e si riserva il diritto di modificarlo o sospenderlo.
Cheer Holding (NASDAQ: CHR) ha anunciado un programa de recompra de acciones de 50 millones de dólares autorizado por su consejo de administración, que se llevará a cabo en los próximos 36 meses. La empresa podrá recomprar sus acciones ordinarias de Clase A a través de transacciones en el mercado abierto o privadas, de acuerdo con las regulaciones de la Regla 10b-18. Las recompras se llevarán a cabo bajo los planes de negociación de la Regla 10b5-1, que permiten la compra de acciones durante los períodos de bloqueo. La dirección determinará el momento, la cantidad y el método basándose en las condiciones del mercado, el precio de las acciones y los requisitos legales. El consejo revisará el programa periódicamente y se reserva el derecho de ajustarlo o suspenderlo.
치어 홀딩 (NASDAQ: CHR)은 5천만 달러 규모의 자사주 매입 프로그램을 이사회에서 승인했다고 발표했습니다. 이 프로그램은 향후 36개월 동안 진행될 예정입니다. 회사는 10b-18 규정에 따라 공개 시장 또는 사적 거래를 통해 클래스 A 보통주를 매입할 수 있습니다. 자사주 매입은 10b5-1 거래 계획에 따라 이루어져 블랙아웃 기간 동안 주식을 매입할 수 있도록 합니다. 경영진은 시장 상황, 주가 및 법적 요구 사항에 따라 매입 시기, 금액 및 방법을 결정합니다. 이사회는 프로그램을 주기적으로 검토하며, 조정하거나 중단할 권리를 보유합니다.
Cheer Holding (NASDAQ: CHR) a annoncé un programme de rachat d'actions de 50 millions de dollars approuvé par son conseil d'administration, qui s'étendra sur les 36 prochains mois. L'entreprise pourra racheter ses actions ordinaires de Classe A par le biais de transactions sur le marché ouvert ou privé, conformément aux réglementations de la Règle 10b-18. Les rachats seront effectués dans le cadre des plans de négociation de la Règle 10b5-1, permettant l'achat d'actions pendant les périodes de blackout. La direction déterminera le moment, le montant et la méthode en fonction des conditions du marché, du prix des actions et des exigences légales. Le conseil examinera périodiquement le programme et se réserve le droit de l'ajuster ou de l'interrompre.
Cheer Holding (NASDAQ: CHR) hat ein Aktienrückkaufprogramm in Höhe von 50 Millionen Dollar beschlossen, das von seinem Vorstand genehmigt wurde und über die nächsten 36 Monate läuft. Das Unternehmen kann seine ordentlichen Aktien der Klasse A durch den offenen Markt oder private Transaktionen gemäß der Regel 10b-18 zurückkaufen. Die Rückkäufe werden unter den Handelsplänen der Regel 10b5-1 durchgeführt, die den Kauf von Aktien während der Blackout-Perioden ermöglichen. Das Management wird Zeitpunkt, Menge und Methode basierend auf den Marktbedingungen, dem Aktienkurs und den gesetzlichen Anforderungen bestimmen. Der Vorstand wird das Programm regelmäßig überprüfen und behält sich das Recht vor, Anpassungen vorzunehmen oder es einzustellen.
- Authorization of $50 million share repurchase program
- 36-month duration provides flexibility for optimal execution
- Potential to enhance shareholder value through stock buybacks
- No guarantee on the actual amount of shares to be repurchased
- Program may be suspended or discontinued at any time
Insights
The
The program's structure under Rule 10b-18 and Rule 10b5-1 trading plans indicates a well-planned, compliant approach to share repurchases. However, the careful wording regarding implementation and the Board's review rights suggests uncertainty about execution. Without details on cash position or operational cash flow, investors should carefully monitor the company's ability to fulfill this commitment while maintaining operational stability.
BEIJING, Dec. 03, 2024 (GLOBE NEWSWIRE) -- Cheer Holding, Inc. (NASDAQ: CHR) (“Cheer Holding” or the “Company”), a leading provider of advanced mobile internet infrastructure and platform services, announced today that its board of directors (the “Board”) has authorized a
Pursuant to the repurchase program, the Company may repurchase its Class A ordinary shares from time to time in open market transactions or in privately negotiated transactions as permitted under the applicable rules and regulations. Open market purchases are intended to be conducted in accordance with the limitations set forth in Rule 10b-18 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and applicable legal requirements. All or some portion of the repurchases will be made pursuant to trading plans under Rule 10b5-1 under the Exchange Act, which will permit shares to be repurchased when the Company might otherwise be precluded from doing so because of self-imposed trading blackout periods or other regulatory restrictions. The timing, amount and method of repurchase will be determined by the Company’s management based on market conditions, share price, legal requirements and other factors. The Board will periodically review the repurchase program and reserves the right to suspend, adjust, or discontinue as it deems appropriate at any time. No assurance can be given that any amount of Class A ordinary shares will be repurchased.
About Cheer Holding, Inc.
As a preeminent provider of next-generation mobile internet infrastructure and platform services in China, Cheer Holding is dedicated to building a digital ecosystem that integrates “platforms, applications, technology, and industry” into a cohesive digital eco-system, thereby creating a new, open business environment for web3.0 that leverages AI technology. The Company is developing a 5G+VR+AR+AI shared universe space that builds on cutting-edge technologies including blockchain, cloud computing, extended reality, and digital twin.
Cheer Holding’s portfolio includes a wide range of products and services, such as CHEERS Telepathy, CHEERS Video, CHEERS e-Mall, CHEERS Open Data, CheerReal, CheerCar, CheerChat, Polaris Intelligent Cloud, AI-animated short drama series, short video matrix, variety show series, Livestreaming, and more. These offerings provide diverse application scenarios that seamlessly blend “online/offline” and “virtual/reality” elements.
With “CHEERS+” at the core of Cheer Holding’s digital ecosystem, the Company is committed to utilizing innovative product applications and technologies to drive its long-term sustainable and scalable growth.
For more information, please visit http://ir.gsmg.co/.
Safe Harbor Statement
Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate other future acquisitions; ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting our profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic; the occurrence of any event, change or other circumstances that could affect the Company’s ability to continue successful development and launch of its metaverse experience centers; the possibility that the Company may not succeed in developing its new lines of businesses due to, among other things, changes in the business environment and technological developments, competition, changes in regulation, or other economic and policy factors; disruptions or other business interruptions that may affect the operations of our products and services, the possibility that the Company’s new lines of business may be adversely affected by other economic, business, and/or competitive factors; other factors, risks and uncertainties set forth in documents filed by the Company with the Securities and Exchange Commission from time to time, including the Company’s latest Annual Report on Form 20-F filed with the SEC on March 14, 2024, as amended. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Such information speaks only as of the date of this release.
For investor and media inquiries, please contact:
Wealth Financial Services LLC
Connie Kang, Partner
Email: ckang@wealthfsllc.com
Tel: +86 1381 185 7742 (CN)
FAQ
What is the size of Cheer Holding's share repurchase program announced in December 2024?
How long will CHR's share repurchase program last?
What trading rules will CHR follow for its share repurchase program?
Can Cheer Holding suspend or discontinue its share repurchase program?
