Vantage Corp Announces It Has Authorized A Share Repurchase Program Of Up To $1M

Vantage Corp (NYSE:VNTG) ("Vantage" or the "Company"), a shipbroking company providing comprehensive services including brokerage, consultancy, and operational support in the tanker market, today announced that its Board of Directors has authorized a share repurchase program of up to $1 million of Vantage's Class A ordinary shares. The program will be in effect through December 31, 2026.

Vantage Corp CEO Andre D'Rozario commented: "Given the recent volatility in our share price, we believe our stock is significantly undervalued relative to the strength of our fundamentals and long-term growth prospects. The Board's decision to implement a share repurchase program reflects our continued confidence in our business, commitment to delivering long-term value for our shareholders, and our conviction in the company by directly investing in it. Our financial health remains strong, and we continue to see significant opportunities ahead to drive sustainable, long-term growth and value for our shareholders."

Under this share repurchase program, the Company may repurchase shares from time to time through open market purchases at prevailing market prices, privately negotiated transactions or by other means, in accordance with applicable securities laws. The actual timing and number of shares repurchased will be determined at the discretion of the Company's management, based on several factors, including market conditions, the market price and trading volume of the Company's Class A ordinary shares, other investment opportunities, legal and regulatory requirements, business outlook, and capital allocation priorities, etc. The share repurchase program does not obligate the Company to repurchase any specific number of shares and may be suspended or discontinued at any time. The Company expects to utilize its existing cash and cash equivalents to fund any repurchases under the share repurchase program.