Triterras Inc. a leading fintech company for trade and trade finance, has authorized a share repurchase program of up to $50 million and provided updates on other recent events.
$50 Million Share Repurchase Program
Triterras’ recent share price has created an attractive opportunity for the company to institute a stock repurchase program. The Board of Directors has approved a share repurchase of up to $50 million of the Company’s common stock in open market or privately negotiated transactions, which may or may not be conducted through 10b5-1 plans.
Read More: Artesian Takes the Wraps off Artesian Connect
Triterras Chairman and CEO Srinivas Koneru Open Market Share Purchases
On December 21, 2020, Chairman and CEO Srinivas Koneru announced his intention to purchase Triterras’ shares in the open market. Thus far, purchases have been made of 169,652 shares by Mr. Koneru.
Statement in Response to Recent Short Report and Market Manipulation
Last week, Triterras was the target of a short report that is part of what the Company believes to be an attempt by one or more short sellers to manipulate the market for their own financial gain. The authors of this report did not contact any representative of the Company before publishing it, and the report contains many inaccurate statements.
Read More: Thirty New Startups Selected for F10 Accelerator in Zurich
