Vision Marine Technologies Announces Approval of Stock Repurchase Program
SCS
0.0200
The China Mail - Vision Marine Technologies Announces Approval of Stock Repurchase Program
USD
-
AED 3.672504
AFN 66.265317
ALL 82.40468
AMD 381.537936
ANG 1.790403
AOA 917.000367
ARS 1449.250402
AUD 1.508523
AWG 1.8025
AZN 1.70397
BAM 1.670125
BBD 2.014261
BDT 122.309039
BGN 1.670125
BHD 0.377012
BIF 2957.004398
BMD 1
BND 1.292857
BOB 6.910892
BRL 5.541304
BSD 1.000043
BTN 89.607617
BWP 14.066863
BYN 2.939243
BYR 19600
BZD 2.011357
CAD 1.37965
CDF 2558.50392
CHF 0.800557
CLF 0.023213
CLP 910.640396
CNY 7.04095
CNH 7.033604
COP 3860.210922
CRC 499.466291
CUC 1
CUP 26.5
CVE 94.159088
CZK 20.779904
DJF 178.088041
DKK 6.380104
DOP 62.644635
DZD 130.069596
EGP 47.704197
ERN 15
ETB 155.362794
EUR 0.853804
FJD 2.283704
FKP 0.747615
GBP 0.752191
GEL 2.68504
GGP 0.747615
GHS 11.486273
GIP 0.747615
GMD 73.000355
GNF 8741.72751
GTQ 7.663208
GYD 209.231032
HKD 7.78155
HNL 26.346441
HRK 6.434404
HTG 131.121643
HUF 330.190388
IDR 16697
ILS 3.20705
IMP 0.747615
INR 89.577504
IQD 1310.106315
IRR 42100.000352
ISK 125.630386
JEP 0.747615
JMD 160.018787
JOD 0.70904
JPY 157.75504
KES 128.909953
KGS 87.450384
KHR 4013.492165
KMF 420.00035
KPW 900.011689
KRW 1475.720383
KWD 0.30723
KYD 0.83344
KZT 517.535545
LAK 21660.048674
LBP 89556.722599
LKR 309.636651
LRD 177.012083
LSL 16.776824
LTL 2.95274
LVL 0.60489
LYD 5.420776
MAD 9.166901
MDL 16.930959
MGA 4548.055164
MKD 52.559669
MMK 2100.050486
MNT 3553.222489
MOP 8.015542
MRU 40.023056
MUR 46.150378
MVR 15.450378
MWK 1734.170189
MXN 18.034604
MYR 4.077039
MZN 63.903729
NAD 16.776824
NGN 1460.160377
NIO 36.804577
NOK 10.138704
NPR 143.372187
NZD 1.704304
OMR 0.385423
PAB 1.000043
PEN 3.367832
PGK 4.254302
PHP 58.571038
PKR 280.195978
PLN 3.59225
PYG 6709.363392
QAR 3.645959
RON 4.335404
RSD 100.234832
RUB 80.483327
RWF 1456.129115
SAR 3.750651
SBD 8.146749
SCR 15.161607
SDG 601.503676
SEK 9.268304
SGD 1.293304
SHP 0.750259
SLE 24.050371
SLL 20969.503664
SOS 570.513642
SRD 38.441504
STD 20697.981008
STN 20.921395
SVC 8.750267
SYP 11058.582789
SZL 16.774689
THB 31.425038
TJS 9.215661
TMT 3.5
TND 2.927287
TOP 2.40776
TRY 42.746504
TTD 6.787925
TWD 31.518904
TZS 2495.196618
UAH 42.285385
UGX 3577.131634
UYU 39.263908
UZS 12022.543871
VES 282.15965
VND 26312.5
VUV 120.938943
WST 2.787822
XAF 560.144315
XAG 0.014888
XAU 0.000231
XCD 2.70255
XCG 1.8024
XDR 0.69664
XOF 560.144315
XPF 101.840229
YER 238.403589
ZAR 16.77901
ZMK 9001.203584
ZMW 22.626703
ZWL 321.999592
- 'Awesome' Australia dominate to win Ashes against 'hurting' England
- DR Congo's amputees bear scars of years of conflict
- Venison butts beef off menus at UK venues
- Cummins, Lyon doubts for Melbourne after 'hugely satsfying' Ashes
- West Indies 43-0, need 419 more to win after Conway joins elite
- 'It sucks': Stokes vows England will bounce back after losing Ashes
- Australia probes security services after Bondi Beach attack
- West Indies need 462 to win after Conway's historic century
- Thai border clashes displace over half a million in Cambodia
- Australia beat England by 82 runs to win third Test and retain Ashes
Vision Marine Technologies Announces Approval of Stock Repurchase Program
Alexandre Mongeon, Co-Founder and Chief Executive Officer of Vision Marine, commented:
"The Board of Directors recognizes the challenges faced by microcap stocks in the current market environment. While Vision Marine has made significant strides in the electrification of marine transportation, we believe our stock price does not accurately reflect the Company's value and long-term potential. We believe that the implementation of a stock repurchase program would take a strategic step to enhance shareholder value and demonstrate confidence in our vision to lead the industry with our industrialized, turnkey electric powertrain solutions."
MONTRÉAL, QUEBEC / ACCESS Newswire / February 21, 2025 / Vision Marine Technologies Inc. (NASDAQ:VMAR) ("Vision Marine" or the "Company"), a pioneer in high-performance electric marine propulsion, today announced that its Board of Directors has approved the establishment of a stock repurchase program authorizing the repurchase of up to 5% of Vision Marine Technologies Inc.'s issued and outstanding common shares as of today. We intend to enter into a 10b-18 trading plan establishing such a program.
logo
Under this authorization, Vision Marine envisions repurchasing shares from time to time at its discretion through a 10b-18 trading plan. The timing and amount of any repurchases would be determined pursuant to such plan. As of February 20, 2025, the Company had 9,813,429 common shares issued and outstanding and a cash balance of approximately US$10.6 million.
About Vision Marine Technologies Inc.
Vision Marine Technologies Inc. (NASDAQ:VMAR) is revolutionizing the marine industry with its proprietary E-Motion™ electric powertrain technology. By integrating advanced battery systems, high-efficiency electric motors, and cutting-edge software, Vision Marine is driving the transition toward sustainable and emission-free recreational boating. The Company's mission is to redefine on-water experiences through innovation, efficiency, and environmental responsibility.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may include words such as "believe," "anticipate," "expect," "intend," "estimate," "may," "continue," "potential," and similar expressions to identify forward-looking statements. Such statements include, but are not limited to, the Company's stock repurchase program, the potential impact on shareholder value, and Vision Marine's long-term market positioning.
Forward-looking statements are based on management's expectations and assumptions as of the date of this press release. Actual results may differ materially due to risks and uncertainties, including market conditions, the Company's ability to execute the stock repurchase program as intended, and other factors discussed in Vision Marine's filings with the Securities and Exchange Commission (SEC), including its Annual Report on Form 20-F for the year ended August 31, 2024, and subsequent periodic reports. Vision Marine assumes no obligation to update or revise forward-looking statements, except as required by law.
Investor and Media Contact:
Bruce Nurse
(303) 919-2913
[email protected]
Website: visionmarinetechnologies.com
Twitter: @marine_vision
Facebook: @VisionMarineTechnologies
Instagram: @visionmarine.technologies
YouTube: @VisionMarineTechnologies
SOURCE: Vision Marine Technologies Inc
View the original press release on ACCESS Newswire
W.Cheng--ThChM
