Coffee Holding launches share buyback program of up to $2.5 million
JVA•Coffee Holding Co. launched a share repurchase program for up to $2.5 million of common stock, with purchases potentially made in open-market or privately negotiated transactions.
1. Repurchase program
Coffee Holding Co. said buybacks may occur through open-market purchases or privately negotiated transactions, depending on market conditions and share price. The program is expected to be funded from available cash, supported by future operating cash flow, and may be suspended or ended at any time. Repurchases may use a Rule 10b5-1 plan.
2. CEO cites valuation
CEO Andrew Gordon cited an undervalued stock price, stronger results, improved margins and a streamlined cost base.
