VAYK Proposes 100 million Buyback through Private Repurchases
VAYK Proposes 100 million Buyback through Private Repurchases |
| [28-February-2025] |
ATLANTA, Feb. 28, 2025 /PRNewswire/ -- Vaycaychella, Inc. (OTC Pink: VAYK) ("VAYK") announces that its management has proposed a stock repurchase program, under which the company will buy back through private deals up to 100 million shares, and will subsequently cancel these shares. The program is offered to shareholders who individually own more than 20 million shares, or to groups of no more than five shareholders collectively owning more than 40 million shares. Participating shareholders must be willing to sell all their shares back to the company at a discounted price. The repurchased shares will then be canceled, reducing the total number of outstanding shares. The program is subject to approval of the Board of Directors at the upcoming board meeting in mid-March, which will include newly elected board members. "If you are a shareholder owning more than 20 million shares, or a group of fewer than six shareholders collectively owning more than 40 million shares, please reach out to us before the board meeting," announced Stephanie Anderl, Interim CEO of VAYK. "Our board will review the feasibility of the proposal, including whether we have enough shareholders willing to sell their shares back to the company. So please contact us immediately." Ms. Anderl highlighted that this program would benefit participating shareholders by allowing them to cash in their positions immediately, rather than selling in small increments over an extended time, which can sometimes take several months or even longer. "This will, in particular, be a good opportunity for shareholders who have no intention of long-term investment and wish to liquidate their positions in our company promptly," says Anderl. As a trade-off, the repurchase price will be discounted against the current market price. Anderl did not disclose the acceptable price for the company but emphasized that the discount would be "substantial" and subject to negotiation between the company and participating shareholders. Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur. VAYK Contact: Contact@Vaycaychella.com; +1 470-804-7144
SOURCE Vaycaychella, Inc. | ||
Company Codes: OTC-BB:VAYK, OTC-PINK:VAYK |
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