MELBOURNE, Fla., Jan. 02, 2024 (GLOBE NEWSWIRE) -- via IBN — Branded Legacy (OTC:BLEG) is further highlighting its commitment to shareholders and future growth by announcing the final retirement of an additional 442 million common shares, bringing the total shares retired to an extraordinary 2.44 billion. This action surpasses the initial commitment and signifies management's unwavering dedication to shareholder value.
This development underscores Branded Legacy's commitment to responsible corporate governance and transparent communication with its investors. Notably, the retirements have resulted in management now owning zero common stock, aligning the company's leadership with the best interests of its shareholders.
The decision to retire an additional 442 million common shares is a testament to Branded Legacy's financial prudence and a reflection of the company's confidence in its current position and future prospects. Importantly, this initiative has been executed without resorting to a reverse split, demonstrating Branded Legacy's commitment to maintaining shareholder equity and market integrity. The Branded Legacy team further reaffirms that there will be no reverse splits in the foreseeable future, nor will there be any liquidation of preferred series shares.
"We are proud to announce the retirement of an additional 442 million common shares, surpassing our initial commitment and reaffirming our dedication to shareholder value," said CEO David Oswald. "This strategic move reflects our confidence in the company's trajectory and our unwavering commitment to transparency and responsible corporate governance."
The retirement of these shares also signals that Branded Legacy is well-positioned for the future, with no foreseeable liquidation ...