GCL Global launches $10 million share buyback program

GCL Global Holdings Ltd. (NASDAQ: GCL) announced that its board of directors has authorized a share repurchase program of up to $10 million of the company's ordinary shares over the next 12 months.

Under the program, the Singapore-based games and entertainment company may repurchase shares through open market purchases, privately negotiated transactions, or other means, subject to market conditions and applicable legal requirements, including Rule 10b-18 under the Securities Exchange Act of 1934.

"This repurchase program reflects our confidence in the Company's long-term growth prospects and our commitment to creating value for our shareholders," said Sebastian Toke, Group CEO of GCL. "With our cash position and the underlying strength of our business, we believe this is an opportune time to invest in our own shares, while maintaining financial flexibility to execute on our growth strategy."

The company expects to fund the repurchase program from available cash on hand. The program does not obligate GCL to repurchase any specific dollar amount or number of shares, and may be modified, suspended, or discontinued at any time without prior notice.

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