SINGAPORE, May 01, 2025 — Primech Holdings Limited (Nasdaq: PMEC), a Singapore-based technology-driven facility services provider for both public and private sectors, announced its Board of Directors has approved a share repurchase program under Rule 10b-18, authorizing the purchase of up to 20% of the company’s outstanding ordinary shares. Shareholder approval is required at an upcoming Extraordinary General Meeting (EGM) for the program to proceed.
The program will be effective from the date of shareholder approval until the next Annual General Meeting (AGM) or when legally required, whichever occurs sooner. It may be revoked, changed, or fully used before then.
“We’re dedicated to smart capital allocation focused on long-term growth as we keep pushing facility services forward with AI, robotics, and sustainable solutions,” stated Mr. Kin Wai Ho, CEO of Primech Holdings. “This share repurchase program demonstrates the confidence of the Board and Management in our business strategy and Primech’s future growth potential. It also shows our dedication to increasing shareholder value.”
The Company may periodically repurchase ordinary shares through on-market purchases, following all applicable securities laws and restrictions. The timing and total amount of repurchases will depend on business, economic, and market conditions, as well as corporate, legal, and regulatory requirements, stock prices, trading volume, and other factors. The program can be suspended or discontinued at any time and does not commit the Company to buy any specific amount of stock. The Company intends to use existing cash to fund any repurchases under this program.
About Primech Holdings Limited
Primech Holdings Limited, headquartered in Singapore, is a leading provider of technology-driven facility services to public and private sectors across Singapore. It offers a wide array of services designed to meet the complex needs of its diverse clientele, including advanced general facility maintenance, specialized cleaning solutions like marble polishing and facade cleaning, stewarding services, and targeted cleaning for offices and homes. Known for its commitment to sustainability and cutting-edge technology, Primech Holdings integrates eco-friendly practices and smart tech to boost efficiency and client satisfaction. This positions Primech as a leader in advancing industry standards in Singapore and beyond. For more information, visit .
Forward-Looking Statements
This announcement contains forward-looking statements regarding the acquisition, anticipated revenues, growth, and expansion. These statements involve risks and uncertainties, based on current expectations and projections about future events that may affect the Company’s financial condition, results of operations, business strategy, and financial needs. They are based on assumptions about the Company’s business strategies and operating environment. These statements can often be identified by terms like “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “likely to.” The Company is not obligated to update or revise any forward-looking statements to reflect new events or changes in expectations, except as required by law. While the Company believes these expectations are reasonable, it cannot guarantee their accuracy. Investors are cautioned that actual results may differ materially and are encouraged to review other factors in the Company’s registration statement and SEC filings.
Company Contact:
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Investor Relations Contact:
Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email:
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