PANAMA CITY, Republic of
Panama, May
5, 2021 /PRNewswire/ -- Banco Latinoamericano de Comercio
Exterior, S.A. ("Bladex" or the "Bank"), today announced that its
Board of Directors has authorized a repurchase program of up to
$60 million of the Bank's
common stock.
The repurchase program is intended to comply with Rule
10b-18 promulgated under the
Securities Exchange Act of 1934, as amended ("Rule 10b-18"). Purchases under the repurchase
program will be made in open market transactions at prevailing
market prices, in privately negotiated transactions, or by other
means in compliance with Rule 10b-18. However, the Bank has no obligation
to repurchase shares and the timing, actual number, and value of
shares to be repurchased is subject to management's discretion and
will depend on the Bank's capital position, liquidity, financial
performance and alternative uses of capital, stock trading price,
regulatory requirements and other market conditions. The Bank
may, in the sole discretion of its Board of Directors, terminate
the repurchase program at any time while it is in effect.
Forward-Looking Statements
This document includes certain "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. These statements are based on management's current
expectations and are subject to uncertainty and changes in
circumstances. Actual results may differ materially from these
expectations due to changes in global political, economic,
business, competitive, market and regulatory factors. More detailed
information about those factors is contained in Bladex's most
recent reports filed on Form 20-F with, and furnished on Form 6-K
to, the Securities and Exchange Commission, each as it may be
amended from time to time, which identify important risk factors
that could cause actual results to differ from those contained in
the forward-looking statements. Bladex disclaims any intent or
obligation to update these forward-looking statements.
About Bladex
Bladex, a multinational bank originally established by the
central banks of Latin-American and Caribbean countries, began operations in 1979
to promote foreign trade and economic integration in the
Region. The Bank, headquartered in Panama, also has offices in Argentina, Brazil, Colombia, Mexico, the United
States of America, and a Representative License in
Peru, supporting the regional
expansion and servicing of its customer base, which includes
financial institutions and corporations.
Bladex is listed on the NYSE in the
United States of America (NYSE: BLX), since 1992, and its
shareholders include: central banks and state-owned banks and
entities representing 23 Latin American countries, commercial banks
and financial institutions, and institutional and retail investors
through its public listing.
For further information on Bladex, please access its website at
www.bladex.com or contact:
Monica Cosulich - SVP, Finance
and Investor Relations
E-mail address: ir@bladex.com. Tel.: (+507) 210-8563
Head Office Address: Torre V, Business Park, Ave. La Rotonda, Urb.
Costa del Este,
Panama, Republic of Panama
View original content to download
multimedia:http://www.prnewswire.com/news-releases/bladex-announces-up-to-60-000-000-common-stock-repurchase-plan-301284016.html
SOURCE Banco Latinoamericano de Comercio Exterior, S.A.
(Bladex)