PARIS & NEW YORK & SINGAPORE - AMTD IDEA Group (NYSE: AMTD; SGX: HKB), a diversified institution and digital solutions provider, has announced a new share repurchase program. The company's board of directors has authorized the repurchase of up to US$20 million of its American depositary shares or ordinary shares by the end of the first quarter in 2024.
The repurchase plan is designed to be carried out in compliance with the Securities Exchange Act of 1934 and the company's insider trading policies. AMTD IDEA Group may buy back shares from the open market at prevailing prices, through privately negotiated transactions, block trades, or other legally permissible means, based on market conditions.
The timing and volume of these repurchases will adhere to the Securities and Exchange Commission Rule 10b-18 and Rule 10b-5, with the board of directors overseeing the program and retaining the authority to adjust its terms and size as necessary.
AMTD IDEA Group operates as a connector in global capital markets, providing a range of business services and digital solutions to clients across various stages of their life cycles, as well as offering hospitality and VIP services. The company's "AMTD SpiderNet" ecosystem aims to act as a superconnector between clients, business partners, investee companies, and investors, bridging the East and West.
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on current expectations and projections about future events and are subject to risks and uncertainties that could cause actual results to differ materially.
The information is based on a press release statement from AMTD IDEA Group.
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