Vision Marine Technologies Announces Approval of Stock Repurchase Program
RBGPF
-3.5200
The China Mail - Vision Marine Technologies Announces Approval of Stock Repurchase Program
USD
-
AED 3.673035
AFN 69.5015
ALL 84.297878
AMD 383.839547
ANG 1.789699
AOA 916.999862
ARS 1291.472103
AUD 1.535702
AWG 1.8025
AZN 1.701933
BAM 1.691261
BBD 2.020858
BDT 122.963969
BGN 1.69186
BHD 0.376999
BIF 2942.5
BMD 1
BND 1.288565
BOB 6.916741
BRL 5.5746
BSD 1.000873
BTN 86.834174
BWP 13.548842
BYN 3.275175
BYR 19600
BZD 2.010594
CAD 1.377205
CDF 2889.999832
CHF 0.805903
CLF 0.02449
CLP 960.740214
CNY 7.176903
CNH 7.180425
COP 4136.5
CRC 505.798217
CUC 1
CUP 26.5
CVE 95.949827
CZK 21.300702
DJF 177.720117
DKK 6.46499
DOP 60.999826
DZD 130.398771
EGP 48.649596
ERN 15
ETB 138.200387
EUR 0.86623
FJD 2.254902
FKP 0.746724
GBP 0.749205
GEL 2.696143
GGP 0.746724
GHS 10.500379
GIP 0.746724
GMD 72.000302
GNF 8656.000254
GTQ 7.680167
GYD 209.402578
HKD 7.84996
HNL 26.35025
HRK 6.522398
HTG 131.261377
HUF 346.542502
IDR 16406.25
ILS 3.36742
IMP 0.746724
INR 87.246397
IQD 1310
IRR 42112.503383
ISK 123.212348
JEP 0.746724
JMD 160.34901
JOD 0.709015
JPY 148.126495
KES 129.498647
KGS 87.316401
KHR 4020.000098
KMF 426.492558
KPW 899.957856
KRW 1383.219818
KWD 0.30542
KYD 0.83409
KZT 543.660522
LAK 21574.999932
LBP 89538.285754
LKR 302.389332
LRD 201.000323
LSL 17.890255
LTL 2.95274
LVL 0.60489
LYD 5.410301
MAD 9.089499
MDL 17.080469
MGA 4430.000266
MKD 53.306547
MMK 2099.008816
MNT 3590.523064
MOP 8.093224
MRU 39.820089
MUR 45.78004
MVR 15.400865
MWK 1736.497406
MXN 18.73775
MYR 4.2355
MZN 63.960423
NAD 17.88994
NGN 1530.929806
NIO 36.750206
NOK 10.20316
NPR 138.93811
NZD 1.677754
OMR 0.384497
PAB 1.00093
PEN 3.552502
PGK 4.152019
PHP 57.488023
PKR 283.049702
PLN 3.707735
PYG 7496.83272
QAR 3.64075
RON 4.3976
RSD 101.528004
RUB 81.100712
RWF 1440
SAR 3.750914
SBD 8.244163
SCR 14.682236
SDG 600.503312
SEK 9.6497
SGD 1.287485
SHP 0.785843
SLE 22.999699
SLL 20969.503947
SOS 571.502945
SRD 36.708796
STD 20697.981008
STN 21.45
SVC 8.757615
SYP 13001.494114
SZL 17.889414
THB 32.451957
TJS 9.533998
TMT 3.51
TND 2.895039
TOP 2.342101
TRY 40.58019
TTD 6.793556
TWD 29.70898
TZS 2570.000011
UAH 41.84319
UGX 3587.967467
UYU 40.048255
UZS 12599.999727
VES 122.68725
VND 26217.5
VUV 119.302992
WST 2.743399
XAF 567.277366
XAG 0.026272
XAU 0.000301
XCD 2.70255
XCG 1.803842
XDR 0.69341
XOF 559.000364
XPF 103.849718
YER 240.649634
ZAR 17.882725
ZMK 9001.199267
ZMW 22.996995
ZWL 321.999592
- Shanghai evacuates 283,000 people as typhoon hits
- Ryanair says dropping three French airports over 'harmful' tax
- China says childcare subsidies to 'add new impetus' to economy
- Mercedes-Benz welcomes EU-US deal after profits plunge on tariff woes
- Bayern Munich sign Luis Diaz from Liverpool
- Adidas reports hit from US tariffs
- Italy opens probe into Meta over AI tool in WhatsApp
- Huge quake off Russia sparks Pacific tsunamis
- Russian TV shows buildings swept away as tsunami hits coast
- Japan sees new record high temperature of 41.2C
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
