A2Z Cust2Mate Solutions (NASDAQ: AZ) announced that its board of directors has approved a share repurchase program authorizing the company to repurchase up to $20 million of its outstanding common shares. The program will be executed over a period of up to three months through open market transactions or other permitted methods in compliance with applicable SEC rules.
The company stated that the repurchase program reflects its view that the current market price of its common shares does not fully reflect its underlying value and prospects. This move represents what the company considers an appropriate use of financial resources to enhance shareholder value. Shares repurchased through the program will be returned to treasury and canceled.
Oppenheimer & Co. Inc. has been engaged as broker for the share repurchase program. The company's decision to initiate this buyback comes as it continues to develop its innovative retail technology solutions. A2Z Cust2Mate Solutions creates solutions for complex challenges that bring innovation, ease, excitement and value to retailers and shoppers.
The company's flagship innovative smart cart solutions are transforming brick-and-mortar retail by bridging online and in-store shopping through interactive technology. These AI-driven smart carts personalize every in-store journey, turning routine shopping trips into engaging, rewarding experiences. The technology enables seamless in-cart scanning and payment, allowing shoppers to bypass checkout lines while receiving real-time customized offers and product recommendations.
This enhanced customer experience boosts satisfaction and loyalty while helping retailers streamline operations and optimize merchandising through data-driven insights. The carts are equipped with multiple layers of security for accurate recognition and transaction integrity. Their modular, all-in-one detachable panels transform legacy shopping cart fleets into intelligent platforms that deliver a range of benefits.
The $20 million share repurchase authorization represents a significant commitment to returning value to shareholders while the company continues to execute its business strategy. The program's implementation through https://ibn.fm/0LqOL will be monitored in accordance with regulatory requirements. Investors should review the full terms of use and disclaimers available at http://IBN.fm/Disclaimer for complete information about forward-looking statements and investment risks.
