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Enlightify Inc. (NYSE: ENFY), a Chinese producer and distributor of humic acid-based compound fertilizers, has announced a share repurchase program approved by its board of directors. The company plans to repurchase up to 2,000,000 shares of its common stock at a price not exceeding $3.00 per share.
The program is scheduled to be completed by the end of 2025, with progress updates to be disclosed in quarterly and annual reports. Repurchases may be executed through open market purchases, privately negotiated transactions, or other methods, subject to securities laws compliance. CEO Zhuoyu Li stated that the program reflects confidence in the company's long-term growth and commitment to shareholder value, noting current market undervaluation.
The execution will depend on market conditions, financial position, and adherence to the price cap, with the company reserving the right to modify, suspend, or terminate the program without prior notice.
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