Euro Tech Holdings Company Limited Announces Stock Repurchase Program

Rhea-AI Summary

Euro Tech Holdings Company Limited (Nasdaq: CLWT) announced a stock repurchase program approved by its Board of Directors. The program allows for the repurchase of up to 230,000 ordinary shares, with a maximum aggregate purchase price of $300,000. This initiative will take place over the next 12 months and may involve open market purchases or negotiated transactions, depending on market and business conditions. The Company believes the current stock price does not reflect its future potential or its net asset value per share, indicating confidence in the Company's financial outlook. These moves are positioned to enhance shareholder value.

Positive

• Approval of a stock buyback program for up to 230,000 shares.
• Repurchase amount of up to $300,000 shows confidence in stock value.
• Potential to enhance shareholder value and improve stock price.

Negative

• None.

HONG KONG, April 18, 2023 /PRNewswire/ -- Euro Tech Holdings Company Limited (Nasdaq: CLWT) (the "Company") today announced that its Board of Directors (the "Board") has approved a program to repurchase up to 230,000 shares of its issued and outstanding ordinary shares for an aggregate purchase price of up to $300,000. This gives the Company the ability to repurchase its shares in the open market or through negotiated or block transactions from time to time based on market and business conditions over the next 12 months.

The Board has a high degree of confidence in the Company's future and believes that this expectation is not reflected in the current stock price of the Company's shares, which is also much lower than the Company's net asset value on a per share basis.

Forward-Looking Statement

This release contains forward-looking statements as defined in Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 and may be governed by terms such as "will," "expect," "would," "anticipate," "future," "intend," "plan," "believe," "estimate," "potential," "continue," "in progress," "goal," "guidance expectations" and similar statements are identified. Forward-looking statements contained in this release relate to, among other things, the Company's ongoing compliance with the HFCAA. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company's beliefs and assumptions as of the date of this release. The actual results could differ materially due to risk factors and other items described in more detail in the "Risk Factors" section of the Company's Annual Reports and other filings filed with the U.S. Securities and Exchange Commission (the "SEC") (copies of which may be obtained at www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law.

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SOURCE EURO TECH HOLDINGS COMPANY LIMITED

FAQ

What is the stock repurchase program announced by Euro Tech Holdings (CLWT)?

Euro Tech Holdings announced a program to repurchase up to 230,000 shares for a total price of up to $300,000.

Why did Euro Tech Holdings decide to initiate a stock buyback?

The Board believes the current stock price does not reflect the Company's future potential and net asset value.

How long will the stock repurchase program last for CLWT?

The stock repurchase program will take place over the next 12 months.

What impact could the share buyback have on Euro Tech Holdings' stock price?

The buyback program is expected to enhance shareholder value and may improve the stock price.