A2Z Cust2Mate Solutions Corp. (NASDAQ: AZ) announced that its board of directors has approved a share repurchase program authorizing the company to buy back up to $20 million of its outstanding common shares. The program, which will be executed over a period of up to three months, reflects the company's belief that its current market price does not fully reflect its underlying value and future prospects. The company stated that this initiative represents an appropriate use of financial resources to enhance shareholder value. Oppenheimer & Co. Inc. has been engaged as the broker for the program, which may be executed through open market transactions or other permitted methods in compliance with applicable SEC rules. All shares repurchased will be returned to treasury and canceled.
This announcement comes as A2Z Cust2Mate continues to develop its innovative retail technology solutions. The company creates solutions for complex challenges that bring innovation, ease, excitement and value to retailers and shoppers. Its flagship smart cart solutions are transforming brick-and-mortar retail by bridging online and in-store shopping through interactive technology. Cust2Mate's AI-driven smart carts personalize every in-store journey, turning routine shopping trips into engaging, rewarding experiences. They enable seamless in-cart scanning and payment, allowing shoppers to bypass checkout lines while receiving real-time customized offers and product recommendations. This enhanced customer experience boosts satisfaction and loyalty while helping retailers streamline operations and optimize merchandising through data-driven insights.
The carts are equipped with multiple layers of security for accurate recognition and transaction integrity. Their modular, all-in-one detachable panels transform legacy shopping cart fleets into intelligent platforms that deliver a range of benefits. The latest news and updates relating to AZ are available in the company's newsroom at https://ibn.fm/AZ. Share repurchase programs are often viewed by investors as a sign of management's confidence in the company's financial health and future prospects. By reducing the number of outstanding shares, buybacks can increase earnings per share and potentially support the stock price. The three-month timeframe for this $20 million program indicates an aggressive approach to capital allocation during a period when the company believes its shares are undervalued.
