GUADALAJARA, Mexico,
Sept. 13, 2021 /PRNewswire/ --
Betterware de Mexico S.A.B. de C.V. ("Betterware" or the "Company")
(Nasdaq: BWMX) today announced that as part of the Company's
long-term strategy to maximize stockholder value, its Board of
Directors authorized the repurchase of up to $50 million of the Company's common stock.
Betterware may repurchase shares from time to time in the open
market, in privately negotiated transactions, pursuant to
accelerated share repurchase agreements or otherwise, in each case
depending on market conditions, share price and availability and
other factors in Betterware's discretion. Betterware intends to
have the stock repurchase plan in place until December 31, 2022.
Luis G. Campos, Betterware's
Executive Chairman of the Board, stated, "the stock repurchase
program announced today demonstrates the Board's confidence in our
current and future prospects. Our strong balance sheet and strong
free cash flow generation enable us to invest in support of our
future growth and take advantage of market volatility through the
repurchase of our shares. We continue to execute our strategy
that we believe will lead to value creation for our
shareholders."
There can be no assurance as to the exact number, or aggregate
value, of shares, if any, that will be repurchased by Betterware.
The stock repurchase plan may be suspended or discontinued at any
time in Betterware's sole discretion. Any repurchases of stock will
be financed with the Company's available cash and the plan will not
affect the Company's current dividend payment policy.
Forward Looking Statements
This press release includes certain statements that are not
historical facts but are forward-looking statements for purposes of
the safe harbor provisions under the United States Private
Securities Litigation Reform Act of 1995. Forward-looking
statements generally are accompanied by words such as "believe",
"may," "will", "estimate", "continue", "anticipate", "intend",
"expect", "should", "would", "plan", "predict", "potential",
"seem", "seek," "future," "outlook", and similar expressions that
predict or indicate future events or trends or that are not
statements of historical matters. The reader should understand that
the results obtained may differ from the projections contained in
this document, as past results in no way offer any guarantee of
future performance. For this reason, the Company assumes no
responsibility for any indirect factors or elements beyond its
control that might occur inside Mexico or abroad and which might affect the
outcome of these projections.
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SOURCE Betterware de Mexico