CIBL, INC. Announces Board Authorization to Repurchase 1,500 of its Common Shares, or Approximately 10% of the Outstanding Shares

Rhea-AI Summary

CIBL, Inc. (CIBY) has authorized the repurchase of an additional 1,500 common shares. This decision comes after the Company has repurchased a total of 11,347 shares since its spin-off from LICT Corporation in November 2007. Of these, 4,746 shares were repurchased through two Modified Dutch Auctions in December 2012 and January 2014, with the remainder acquired via open market and private transactions. With 14,769 shares now outstanding, this buyback aims to enhance shareholder value while also acknowledging potential uncertainties in future corporate transactions.

Positive

• Authorization for an additional 1,500 shares repurchase enhances shareholder value.
• Total shares repurchased since 2007 stands at 11,347, indicating a commitment to return capital to shareholders.

Negative

• None.

RENO, Nev.--(BUSINESS WIRE)-- CIBL, Inc. (OTC Markets: CIBY)(“CIBL” or the “Company”) is announcing that its Board of Directors has authorized the Company to repurchase up to an additional 1,500 of its common shares.

Since its spin-off from LICT Corporation in November 2007, CIBL has repurchased 11,347 of its shares, including through two “Modified Dutch Auctions” conducted in December 2012 and January 2014. A total of 4,746 share were repurchased through these auctions, and the remaining 2,412 repurchased shares were acquired through open market and private transactions.

The Company now has 14,769 shares of its common stock outstanding.

This release contains certain forward-looking information 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, including without limitation anticipated corporate transactions. It should be recognized that such information is based upon certain assumptions, projections and forecasts, including without limitation business conditions and financial markets, and the cautionary statements set forth in documents filed by CIBL on its website, www.ciblinc.com. As a result, there can be no assurance that any possible transactions will be accomplished or be successful or that financial targets will be met, and such information is subject to uncertainties, risks and inaccuracies, which could be material.

CIBL is a holding company with subsidiaries in telecommunications. CIBL is listed on OTC Pink® under the symbol CIBY. CIBL’s telephone number is (775) 329-8555.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211104006306/en/

Stephen J. Moore

Chief Financial Officer

(775) 329-8555

office@ciblinc.com

Source: CIBL, Inc.

FAQ

What is the recent share repurchase announcement by CIBL, Inc.?

CIBL, Inc. has announced a repurchase of an additional 1,500 common shares, totaling 11,347 shares repurchased since its spin-off in 2007.

How many shares of CIBL, Inc. are currently outstanding?

CIBL, Inc. currently has 14,769 shares of its common stock outstanding.

What was the purpose of CIBL's share repurchase program?

The share repurchase program aims to enhance shareholder value by returning capital to shareholders.

When did CIBL conduct its previous share repurchases?

CIBL previously conducted Modified Dutch Auctions in December 2012 and January 2014, repurchasing 4,746 shares.