On Sept. 23 RELI announced that its Board of Directors authorized a share repurchase program under which the Company may repurchase up to 3.0 million shares of its outstanding common stock, which will become effective three business days after the date the Company issues its quarterly earnings release for the three months ended September 30 which the Company currently anticipates issuing on or about November 14, 2022.
Ezra Beyman, CEO of Reliance Global Group, commented, “We are pleased to announce this share repurchase program, which we expect will help drive value for shareholders by reducing the outstanding shares. We believe the Company is in a stronger position than at any time in our history, but do not believe this is reflected in the share price given the current market conditions. As further illustration of my confidence, I have personally purchased over $400,000 of stock in the open market within the past weeks. We could not be more encouraged by the outlook for the business and look forward to providing further updates on RELI Exchange and other significant initiatives underway.”
Do your DD. NFA
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