“This share repurchase program reflects our confidence in the future outlook of our business, the soundness of our balance sheet, and the overall strength of the Leatt organization,” said Sean Macdonald, chief executive officer. “We believe that this program provides an opportunity to enhance long-term shareholder value, while delivering on our mission of developing and manufacturing cutting-edge protective products for participants in extreme sports.”
Repurchases may be made from time to time at the discretion of the Board of Directors through open-market transactions in accordance with applicable securities laws. The repurchase program expires on December 31, 2025, and can be suspended or discontinued at any time prior to the expiration date.
The program comes as Leatt recently reported sales vaulted 61 percent in the second quarter ended June 30, marking its third consecutive quarter of double-digit growth as the protective gear maker benefited from long-awaited restocking pushes in the bike channel.
Image courtesy Leatt Corp.
