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Fitell Corporation Announces $3 Million Share Repurchase Program
Taren Point, Australia, Dec. 01, 2025 (GLOBE NEWSWIRE) -- Fitell Corporation (NASDAQ: FTEL) (...
About this update from First Tellurium Corp
[{"type":"text","content":"Fitell Corporation Announces $3 Million Share Repurchase Program\n\n\n\n Taren Point, Australia, Dec. 01, 2025 (GLOBE NEWSWIRE) -- Fitell Corporation (NASDAQ: FTEL) (“Fitell” or the “Company”) an online retailer of gym and fitness equipment in Australia, today announced that its board of directors (the “Board”) has approved a share repurchase program (the “Share Repurchase Program”) under which the Company may repurchase up to $3 million of its ordinary shares over the next 24 months. The Share Repurchase Program is designed to enhance shareholder value and foster a stronger sense of community among our supporters.\n \n\n\n\n Share Repurchase Program\n \n\n\n\n With a positive outlook on our growth trajectory, the Board has approved the Share Repurchase Program of up to US$3,000,000.00 of our outstanding Class A ordinary shares over the next 24 months.\n \n\n\n Under the program, Fitell may repurchase shares from time to time through open market purchases, block trades, or other means, in compliance with Rule 10b-18 of the Securities Exchange Act of 1934, as amended. The actual timing, volume, and execution of repurchases will be at the discretion of management and will depend on factors such as share price, market conditions, regulatory requirements, and the Company’s capital position and liquidity needs;\n \n\n Repurchases under the program are expected to be funded using the Company’s existing cash and future operating cash flows.\n \n\n All shares repurchased will be held as treasury stock or cancelled.\n \n\n The Share Repurchase Program does not obligate the Company to acquire any particular number of shares and may be adjusted or terminated at any time depending on market conditions and other corporate considerations.\n \n\n The program is effective immediately and may be modified, suspended, or terminated at any time.\n \n\n\n\n\n “Following our FY25 results, we believe the current market valuation does not fully reflect Fitell’s operational progress and opportunities across our fitness operations and 2F Robotics,” said Sam Lu, CEO of Fitell Corporation. “We believe our balance sheet has strengthened and that now is an appropriate time to begin returning value to shareholders. The share repurchase program provides flexibilit...