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FAQ: Golden Matrix Group's $3 Million Stock Repurchase Program
TL;DR
Golden Matrix Group's $3 million stock buyback signals management confidence, potentially boosting shareholder value by reducing shares and increasing earnings per share.
Golden Matrix Group's board authorized a $3 million stock repurchase program through open market or negotiated transactions, expiring December 2026 unless extended or discontinued.
This disciplined capital allocation by Golden Matrix Group demonstrates responsible corporate stewardship, potentially creating more sustainable long-term value for shareholders and stakeholders.
Golden Matrix Group plans to retire repurchased shares, reducing total outstanding shares from the current 140.7 million to potentially increase ownership stakes.
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Golden Matrix Group is announcing that its Board of Directors has authorized a stock repurchase program to buy back up to $3 million worth of the company's common stock.
Management believes the company's shares are trading at a significant discount to intrinsic value, and the repurchase represents a disciplined use of capital to reduce market overhang, address short interest, enhance long-term shareholder returns, and provide a tax-efficient method of returning capital compared to dividends.
Shares may be repurchased from time to time in the open market or through negotiated transactions at prevailing market rates, in accordance with federal securities laws, including potentially under a Rule 10b5-1 plan. Purchases will be made at management's discretion based on market conditions and other factors.
The program was announced on December 16, 2025, and is scheduled to expire on December 15, 2026, unless extended or discontinued earlier by the Board of Directors.
The announcement comes from Golden Matrix Group Inc. (NASDAQ: GMGI), with specific commentary from Rich Christensen, the Company's Chief Financial Officer, and authorization from the Company's Board of Directors.
All shares purchased by the Company under the stock repurchase program will be retired and returned to treasury.
The repurchase program is expected to be funded using the Company's working capital.
No, the repurchase program does not obligate the Company to purchase any specific number of shares, and it may be suspended, terminated, or modified at any time based on market conditions, cost, and other factors.
Golden Matrix Group is an international B2B and B2C gaming technology company that develops and licenses gaming platforms, operates the RKings Competitions eCommerce site, and owns the MEXPLAY online casino in Mexico.
Curated from NewMediaWire
