Euro Tech Holdings Company Limited Announces Stock Repurchase Program

Rhea-AI Summary

Euro Tech Holdings (Nasdaq: CLWT) has announced a significant stock repurchase program approved by its Board of Directors. The program authorizes the repurchase of up to 350,000 shares of its issued and outstanding ordinary shares, with an aggregate purchase price cap of $500,000.

The company will have the flexibility to execute these repurchases through open market transactions or negotiated/block trades over the next 12 months. The Board expressed strong confidence in the company's future, stating that the current stock price does not reflect their expectations and trades significantly below the company's net asset value per share.

Positive

• Board approved share buyback of up to 350,000 shares
• Maximum buyback value set at $500,000
• Stock currently trading below net asset value per share
• 12-month window for flexible execution of repurchases

Negative

• Current stock price performing below expectations

News Market Reaction

-0.86%

1 alert

-0.86% News Effect

On the day this news was published, CLWT declined 0.86%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

HONG KONG, Feb. 20, 2025 /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 350,000 shares of its issued and outstanding ordinary shares for an aggregate purchase price of up to $500,000. 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 Holding Foreign Companies Accountable Act (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.

View original content:https://www.prnewswire.com/news-releases/euro-tech-holdings-company-limited-announces-stock-repurchase-program-302381234.html

SOURCE EURO TECH HOLDINGS COMPANY LIMITED

FAQ

How many shares will CLWT repurchase in its 2025 buyback program?

Euro Tech Holdings will repurchase up to 350,000 shares of its issued and outstanding ordinary shares.

What is the maximum amount CLWT will spend on its 2025 share repurchase program?

The company has set a maximum aggregate purchase price of $500,000 for the share repurchase program.

How long will CLWT's 2025 stock repurchase program last?

The stock repurchase program will run for 12 months from the announcement date.

Why did CLWT announce a share buyback program in February 2025?

The Board believes the current stock price is much lower than the company's net asset value per share and doesn't reflect their confidence in the company's future.

How will CLWT execute its 2025 share repurchase program?

The company can repurchase shares through open market transactions or through negotiated or block transactions, based on market and business conditions.