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Kolibri Global Energy has established an automatic securities purchase plan (ASPP) with Roth Capital Partners for buying back its common shares on NASDAQ under Rule 10b5-1. This arrangement enables the company to continue purchasing shares during periods when it would typically be restricted from trading, such as during internal blackout periods or due to insider trading rules.
Kolibri Global Energy ha istituito un piano automatico di acquisto di titoli (ASPP) con Roth Capital Partners per riacquistare le sue azioni ordinarie su NASDAQ ai sensi della Regola 10b5-1. Questo accordo consente all’azienda di continuare ad acquistare azioni durante i periodi in cui normalmente sarebbe soggetta a restrizioni nel trading, come durante i periodi di blackout interni o a causa delle regole sul trading degli insider.
Kolibri Global Energy ha establecido un plan automático de compra de valores (ASPP) con Roth Capital Partners para recomprar sus acciones ordinarias en NASDAQ bajo la Regla 10b5-1. Este acuerdo permite a la empresa continuar comprando acciones durante períodos en los que normalmente estaría restringida a operar, como durante los períodos de cierre interno o debido a las reglas de comercio de información privilegiada.
Kolibri Global Energy는 Roth Capital Partners와 함께 NASDAQ에서 정관에 따라 보통주를 재매입하기 위한 자동 증권 매입 계획(ASPP)을 수립했습니다. 이 계약은 회사가 내부 블랙아웃 기간이나 내부자 거래 규정으로 인해 거래가 제한되는 기간에도 계속해서 주식을 구매할 수 있도록 해줍니다.
Kolibri Global Energy a mis en place un plan d’achat automatique de titres (ASPP) avec Roth Capital Partners pour racheter ses actions ordinaires sur NASDAQ selon la Règle 10b5-1. Cet arrangement permet à l’entreprise de continuer à acheter des actions pendant les périodes où elle serait normalement restreinte d’effectuer des transactions, comme pendant les périodes de blackout interne ou en raison des règles de transaction des initiés.
Kolibri Global Energy hat einen automatischen Wertpapier-Kaufplan (ASPP) mit Roth Capital Partners eingerichtet, um seine Stammaktien an der NASDAQ gemäß Regel 10b5-1 zurückzukaufen. Diese Regelung ermöglicht es dem Unternehmen, auch in Zeiten Aktien zu kaufen, in denen es normalerweise von Handelsaktivitäten ausgeschlossen wäre, zum Beispiel während interner Sperrfristen oder aufgrund von Insider-Handelsregeln.
Positive
- Implementation of share buyback program indicates confidence in company value
- Ability to execute share purchases during blackout periods provides consistent market support
Negative
- Share buybacks will utilize company cash reserves that could be used for operations
Insights
The establishment of an Automatic Securities Purchase Plan (ASPP) for share buybacks is a moderately positive development for Kolibri Global Energy. With a market cap of $116.5 million, this program demonstrates management’s confidence in the company’s valuation and commitment to returning value to shareholders. The 10b5-1 plan structure provides transparency and regulatory compliance, allowing systematic share repurchases even during blackout periods.
However, the announcement lacks important details about the program’s size, duration and price parameters, which limits the ability to assess its potential market impact. For a company of this size, the effectiveness of the buyback will depend heavily on these undisclosed terms and the company’s available cash resources. Without these specifics, investors should maintain measured expectations about the program’s immediate influence on share price.
THOUSAND OAKS, Calif.–(BUSINESS WIRE)– Kolibri Global Energy Inc. (the “Company” or “Kolibri”) (TSX: KEI, NASDAQ: KGEI) announces that the Company has established a pre-defined automatic securities purchase plan (the “ASPP”) with its broker, Roth Capital Partners LLC, to allow for the purchase of the Company’s common shares on NASDAQ under Rule 10b5-1, at any time, including when it ordinarily would not be active in the market due to its own internal trading blackout periods, insider trading rules or otherwise.
About Kolibri Global Energy Inc.
Kolibri Global Energy Inc. is a North American energy company focused on finding and exploiting energy projects in oil and gas. Through various subsidiaries, the Company owns and operates energy properties in the United States. The Company continues to utilize its technical and operational expertise to identify and acquire additional projects in oil, gas and clean and sustainable energy. The Company’s shares are traded on the Toronto Stock Exchange under the stock symbol KEI and on the NASDAQ under the stock symbol KGEI.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241029737906/en/
For further information, contact:
Wolf E. Regener +1 (805) 484-3613
Email: wregener@kolibrienergy.com
Website: www.kolibrienergy.com
Source: Kolibri Global Energy Inc.
FAQ
What is the purpose of Kolibri Global Energy’s (KGEI) automatic securities purchase plan?
The ASPP allows Kolibri to purchase its common shares on NASDAQ even during internal trading blackout periods or when insider trading rules would normally restrict trading.
Who is Kolibri Global Energy’s (KGEI) broker for the automatic securities purchase plan?
Roth Capital Partners is the broker managing Kolibri’s automatic securities purchase plan.
Under which rule is Kolibri Global Energy (KGEI) implementing its share buyback plan?
Kolibri is implementing its share buyback plan under Rule 10b5-1 on NASDAQ.
