Murano Global Investments Plc. Announces a New Share Repurchase Program
03 April 2024 - 11:18PM
Murano Global Investments Plc. (“Murano” or “Company”, Nasdaq:
MRNO) announced today that its board of directors has authorized a
new share repurchase program under which the Company may repurchase
up to US$2 million of its ordinary shares until the end of the last
business day of the third quarter in 2024, U.S. Eastern Time. The
Company plans to adopt and implement this share repurchase program
in accordance with applicable rules and requirements under the
Securities Exchange Act of 1934, as amended, and the Company’s
insider trading policies.
The Company’s proposed repurchases may be made from time to time
in the open market at prevailing market prices, in privately
negotiated transactions, in block trades and/or through other
legally permissible means, depending on market conditions and in
accordance with applicable rules and regulations. The timing and
dollar amount of repurchase transactions will be subject to the
Securities and Exchange Commission Rule 10b-18 and Rule 10b-5
requirements. The Company’s board of directors will review the
share repurchase program periodically and may authorize adjustment
of its terms and size.
About Murano Global Investments Plc.
Murano (Nasdaq: MRNO) is a real estate company that owns,
develops and invests in hotel, resort and commercial properties
throughout Mexico. Over the last 20+ years, Murano’s experienced
management team has deployed more than $2 billion in total
capitalization for the acquisition, repositioning and development
of transformational real estate projects. Murano’s portfolio
includes the Hotel Andaz (operated by Hyatt) and Hotel Mondrian
(operated by Accor) in Mexico City as well as luxury projects in
Cancun, which includes the 1,016 room Grand Island I hotel project
opening in April 2024 under Hyatt’s Vivid and Dreams brands, and a
project in Baja. Murano’s portfolio positions the company to
capitalize on the country’s strong travel and tourism fundamentals.
With an established track record and vast network of industry and
brand relationships, Murano is poised for sustained growth.
Management is led by Chief Executive Elias Sacal, Chief Operating
Officer Marcos Sacal and Chief Financial Officer David Galan. For
more information, please visit: https://www.murano.com.mx/en/
Forward-Looking Statements
This announcement contains certain forward-looking statements
within the meaning of U.S. federal securities laws. These
forward-looking statements generally are identified by the words
"believe," "project," "expect," "anticipate," "estimate," "intend,"
"strategy," "future," "opportunity," "plan," "may," "should,"
"will," "would," "will be," "will continue," "will likely result,"
and similar expressions. Forward-looking statements are
management’s current predictions, projections and other statements
about future events that are based on current expectations and
assumptions available to the Company, and, as a result, are subject
to risks and uncertainties. Many factors could cause actual future
events to differ materially from the forward-looking statements in
this document. Forward-looking statements are not guarantees of
future performance. You should carefully consider the foregoing
factors and the other risks and uncertainties described in the
"Risk Factors" section of the Company's registration statement on
Form F-4 filed by the Company with the U.S. Securities and Exchange
Commission (the "SEC") and other documents filed by the Company
from time to time with the SEC. These filings identify and address
other important risks and uncertainties that could cause actual
events and results to differ materially from those contained in the
forward-looking statements. Forward-looking statements speak only
as of the date they are made. Readers are cautioned not to put
undue reliance on forward-looking statements, and all
forward-looking statements in this document are qualified by these
cautionary statements. The Company assumes no obligation and does
not intend to update or revise these forward-looking statements,
whether as a result of new information, future events, or
otherwise. The Company cannot give any assurance that it will
achieve its expectations. The inclusion of any statement in this
communication does not constitute an admission by the Company or
any other person that the events or circumstances described in such
statement are material.
Investors
investors@murano.com.mx
Media
Jason Chudoba & Megan Kivlehan,
ICRJason.Chudoba@icrinc.comMegan.Kivlehan@icrinc.com
Murano Global Investments (NASDAQ:MRNO)
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