JBDI announces a $1 million share repurchase program, allowing flexible market purchases of its ordinary shares.
Quiver AI Summary
JBDI Holdings Limited has announced the approval of a share repurchase program, allowing the company to buy back up to $1 million of its ordinary shares from the open market and through various transactions, depending on market conditions. The Board of Directors will periodically review the program and may adjust its terms and size. JBDI is known for providing environmentally friendly products and services in the revitalization, reconditioning, and recycling of drums and containers, and aims to assist customers in reducing their environmental footprint. The announcement includes a safe harbor statement regarding forward-looking statements and their associated risks.
Potential Positives
- The approval of a share repurchase program signals confidence in the company's financial health and may boost shareholder value.
- Repurchasing up to US$1.0 Million in Ordinary Shares demonstrates the company's commitment to returning capital to shareholders.
- The announcement highlights the company's adaptive strategies in response to market conditions, showing proactive management.
- JBDI's ongoing reputation for quality and reliability in the environmentally friendly sector may enhance its market position following this news.
Potential Negatives
- The announcement of a relatively small share repurchase program of only US$1.0 Million may signal a lack of confidence in stock performance or an inability to allocate more capital towards share buybacks.
- Relying on market conditions for the timing and manner of repurchases suggests volatility, which may indicate instability in the company's stock or market perception.
- The statement about the need to adjust the terms and size of the share repurchase program implies potential uncertainty about the company's financial health and future performance.
FAQ
What is the share repurchase program announced by JBDI?
The share repurchase program allows JBDI to buy back up to US$1.0 Million of its Ordinary Shares.
When was the share repurchase program approved?
The share repurchase program was approved on May 5, 2025, by JBDI's board of directors.
How will JBDI carry out the share repurchase?
Repurchases may occur on the open market, in private negotiations, block trades, or other legally permissible means.
What is the mission of JBDI Holdings Limited?
JBDI aims to achieve zero environmental impact while optimizing resource allocation and reducing costs.
Who can I contact for investor relations at JBDI?
For investor relations, contact Matthew Abenante at Strategic Investor Relations, or Liang Zhao Rong at JBDI Holdings Limited.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
Full Release
Singapore, May 05, 2025 (GLOBE NEWSWIRE) -- (“JBDI” or the “Company”) (NASDAQ: JBDI) today announced that its board of directors (the “Board”) has approved a share repurchase program (the “Share Repurchase Program”). Pursuant to the Share Repurchase Program, the Company may repurchase up to US$1.0 Million worth of its Ordinary Shares shares.
The Company’s proposed repurchases may be made from time to time on the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations. The Board will review the share repurchase program periodically, and may authorize adjustment of its terms and size.
About JBDI Holdings Limited
JBDI Holdings Limited is a leading provider of environmentally friendly and efficient products and services, specializing in the revitalization, reconditioning, and recycling of drums and related containers in Singapore and across Southeast Asia. With nearly four decades of industry experience, JBDI Holdings has established a strong reputation for quality and reliability, offering a wide range of reconditioned steel and plastic drums, new containers, and ancillary services. Our mission is to help our customers achieve a zero environmental impact footprint while optimizing resource allocation and reducing costs. For more information, please visit https://www.barrels.com.sg .
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private SecuritiesLitigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. JBDI may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about CBDI’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. JBDI undertakes no obligation to update any forward-looking statement, except as required under applicable law.
Investor Relations Contact:
Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email:
[email protected]
Liang Zhao Rong
JBDI Holdings Limited
Tel: +65 6861 4150
Email:
[email protected]
