Business
Yatra Online, Inc. Provides Update on Share Buyback Repurchasing a Total of 1,044,638 shares
Gurugram, India and New York, New York--(Newsfile Corp. - March 11, 2024) - Yatra Online, Inc. (NASDAQ: YTRA) ("Company" or "Yatra") today provided an update
About this update from Yatra Online, Inc.
[{"type":"text","content":"Gurugram, India and New York, New York--(Newsfile Corp. - March 11, 2024) - Yatra Online, Inc. (NASDAQ: YTRA) (\"Company\" or \"Yatra\") today provided an update on its ongoing share buyback program, affirming its commitment to maximizing shareholder value.\nIn the current March quarter since Jan 2, 2024 and up to and including Mar 7, 2024, Yatra Online, Inc. has strategically repurchased 797,704 shares at an average price of $1.64/share. This follows the Company's announcement of repurchasing 280,384 shares at an average share price of $1.56/share in Fiscal 3Q24 (Dec quarter). This takes the total shares repurchased since the announcement of the $5 million share buyback authorization by the board to 1,044,638 at an average price of $1.63/share.\nThe Company continues to actively repurchase its shares and is periodically transferring them to its registrar for cancellation, thereby reducing the outstanding share count.\nYatra's share repurchase program is not expected to have a fixed expiration date and is not expected to obligate the Company to acquire any specific number of shares. Under the program, shares may be repurchased from time to time in the open market or in privately negotiated transactions. The timing, manner, price and amount of any repurchases will be subject to the discretion of the Company and depend on a variety of factors, including the market price of the Ordinary Shares, general market and economic conditions, regulatory requirements, and other business considerations.\nForward-Looking Statements\nThis press release contains certain forward-looking statements as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, as amended. These forward-looking statements are based on management's current expectations, assumptions, estimates and projections about the Company and its industry. These forward-looking statements are subject to various risks and uncertainties. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as \"anticipate,\" \"believe,\" \"estimate,\" \"expect,\" \"intend,\" \"will,\" \"project,\" \"seek,\" \"should,\" \"poised,\" similar expressions and the negative forms of such expressions. Such statements include, among other things, statements regarding management's expectations of value creation, ...