Logistic Properties of the Americas announced that its Board of Directors has authorized a 12-month share repurchase program, effective November 22, 2024. The program allows the company to buy back up to $10 million of its outstanding ordinary shares. Repurchases will be made from time to time based on equity market conditions and legal requirements.
The company intends to fund any share repurchases using cash generated from operations. Any shares acquired under the program will be held in LPA’s treasury. This initiative reflects the company's confidence in its business strength and commitment to delivering long-term shareholder value.
CEO Esteban Saldarriaga stated that the program aims to address market dislocation in the stock and highlight the intrinsic value of LPA's dollar-denominated real assets and platform. The program will be administered under a 10b5-1 plan and in compliance with applicable securities laws and regulations.
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