HeartCore Authorizes $3.5 Million Share Repurchase Program – QNT Press Release

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NEW YORK and TOKYO, June 08, 2022 (GLOBE NEWSWIRE) —HeartCore Enterprises, Inc., (“HeartCore” or the “Company”)a leading software development company, today announced that its Board of Directors has authorized a share repurchase program pursuant to which the Company may repurchase up to $3.5 million of its outstanding shares of common stock.

“The authorization of this share repurchase program reflects our leadership’s confidence in the trajectory of the organization and our ability to generate long-term shareholder value,” said CEO Sumitaka Yamamoto. “With the continuous growth of our core CMS and Digital Transformation businesses, supplemented by our latest Go IPO consulting service, we believe we are poised for a strong 2022 as we look to expand our footprint across Japan and the international markets. With the momentum we’ve generated so far, we strongly believe there is a disconnect between our current share price and the fair value of our common stock, based on what we believe to be HeartCore’s future earnings potential.”

The Board authorized the Company to purchase its common stock from time to time on a discretionary basis through open market purchases, privately negotiated transactions or other means, including trading plans intended to qualify under Rule 10b5-1, in accordance with applicable federal securities laws and other applicable legal requirements. The Company expects to fund these repurchases through existing cash balances. Decisions regarding the amount and the …

Full story available on Benzinga.com

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