MELBOURNE, Fla., Nov. 28, 2023 (GLOBE NEWSWIRE) -- via IBN – Branded Legacy, Inc (OTC.PK: BLEG), a pioneer in the biotechnology and wellness industries, today announced its strategic decision to buy back and retire 1,000,000 Preferred Class D Shares. This significant move protects against a conversion ratio of 1 Preferred Class D Share to 100 Common Unrestricted shares, marking a pivotal step in enhancing shareholder value and simplifying the company's share structure by preventing these shares from entering the market.
Overseen by Branded Legacy's legal and finance teams, this retirement and conversion process is integral to the company's anti-dilution strategy. The initiative aims to make the company's stock more accessible and appealing to both existing and potential investors. The conversion is planned to be carried out efficiently, ensuring a smooth and transparent transition for all shareholders.
In conjunction with this significant retirement, Branded Legacy is on track to continue the retirement of an additional 700 million restricted Common shares. This action is a clear demonstration of the company's commitment to reducing its share count and thereby increasing the intrinsic value of its stock.
Furthermore, Branded Legacy is in the process of restructuring its preferred share classes, consolidating them into three shareholder-friendly categories. This restructuring is part of the company's ongoing efforts to ensure clear and transparent corporate governance, reflecting its strong commitment to its shareholders.
CEO David Oswald commented, "The buyback and retirement of these Preferred Class D Shares is a strategic move to reinforce our shareholders' value by preventing dilution. We are committed to enhancing the appeal of our stock and ensuring a solid foundation for our company's future."
In line with our commitment to transparency and ongoing communication with our investors, we encourage stakeholders to review our recently released investor packet and the latest quarterly disclosure. These documents provide comprehensive insights into our company's performance and strategic direction. For more information, please visit our website to download the latest investor packet and view the Q3 Disclosure.
This initiative underscores Branded Legacy's dedication to sustainable growth and value creation, highlighting its proactive approach to corporate management and shareholder relations.
Media Contact
Joe Holladay
Branded Legacy
Phone: 321-345-3565
Email: info@brandedlegacy.com
Website: https://brandedlegacy.com/
Safe Harbor Statement on Forward-Looking Language:
This release includes forward-looking statements, which are based on certain assumptions and reflect management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include general global economic conditions; general industry and market conditions and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, includes codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. Dilution, if any, would be for the purposes of management taking stock in lieu of cash salary. The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Additionally, this press release that is not statements of historical fact may be considered to be forward-looking statements. Written words such as "may," "will," "expect," "believe," "anticipate," "estimate," "intends," "goal," "objective," "seek," "attempt," or variations of these or similar words, identify forward-looking statements. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future.
