Seven Arts Entertainment Inc. Announces Stock Repurchase Program

Rhea-AI Summary

Seven Arts Entertainment Inc. (OTC PINK: SAPX) has announced a stock repurchase program approved by its Board of Directors, allowing the company to buy back up to $2,000,000 worth of outstanding shares over the next 12 months. This equates to an estimated 500 million to 800 million shares. The buybacks will be executed based on market conditions and comply with legal and SEC regulations. CEO Jason Black expressed confidence in the company's revenue projections and plans to enhance shareholder value through this initiative as they near the opening of their Atlanta production facility.

Positive

• Board approved a stock repurchase program of up to $2,000,000.
• Estimated repurchase of 500 million to 800 million shares enhances shareholder value.
• CEO expresses confidence in revenue projections linked to new production facility.

Negative

• None.

ATLANTA, GA / ACCESSWIRE / November 15, 2022 / Seven Arts Entertainment Inc. (OTC PINK:SAPX), the "Company", a legacy producer of film and music, is pleased to announce its Board of Directors has approved a stock repurchase program.

Under the terms of the program, the Company may repurchase up to $2,000,000.00 of outstanding shares over 12 months. The Company has estimated the sum to equate to between 500 million and 800 million common shares that would be subject to repurchase.

All stock buybacks will be conducted, from time to time, based on market conditions and in accordance with all legal and SEC requirements such as Rule 10b5-1 trading plans.

Stated Seven Arts Entertainment's CEO, Jason Black: "As the Company moves closer to the opening of its Atlanta production facility, we are increasingly confident in our revenue projections and our ability to reinvest in the Company through share buybacks for the sake of continuing to improve the Company's capital structure and shareholder value.

About: Seven Arts Entertainment Inc. is a media and entertainment company developing a diverse portfolio of intellectual properties in the film and music industries.

Forward-Looking Statements:

This press release contains forward-looking statements. The words 'believe,' 'may,' 'estimate,' 'continue,' 'anticipate,' 'intend,' 'should,' 'plan,' 'could,' 'target,' 'potential,' 'is likely,' 'will,' 'expect' and similar expressions, as they relate to us, are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

Contact:

info@sevenartsentertainment.com

Twitter:

@SAPX_7arts

SOURCE: Seven Arts Entertainment, Inc.

View source version on accesswire.com:
https://www.accesswire.com/725898/Seven-Arts-Entertainment-Inc-Announces-Stock-Repurchase-Program

FAQ

What is the stock repurchase program approved by Seven Arts Entertainment Inc.?

The program allows Seven Arts Entertainment Inc. to buy back up to $2,000,000 worth of shares over 12 months.

How many shares does Seven Arts Entertainment plan to repurchase?

The company estimates it could repurchase between 500 million and 800 million common shares.

What is the purpose of Seven Arts Entertainment's stock buyback?

The buyback aims to improve the company's capital structure and enhance shareholder value.

How will Seven Arts Entertainment conduct the stock buybacks?

The buybacks will be executed based on market conditions and comply with legal and SEC requirements.

What is the significance of the Atlanta production facility for Seven Arts Entertainment?

The facility is expected to positively impact revenue projections, supporting the company's confidence in its business strategy.