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Photomyne ( (IL:PHTM) ) has issued an update.
Photomyne has announced the approval of a self-purchase plan for its shares on the Tel Aviv Stock Exchange, scheduled to commence on February 23, 2025. The purchase plan, approved by the board, will be financed from the company’s own sources and is intended as a strategic move to utilize the company’s liquidity effectively while not impacting its operational capabilities. The board’s approval highlights confidence in the company’s financial stability, with no expected tax implications for the company, though shareholders may need to assess individual tax consequences. The plan is seen as a business opportunity, taking advantage of the company’s liquidity and share price, and aligns with the principles of ‘Safe Harbor Protection,’ reflecting a positive outlook on the company’s future.
More about Photomyne
YTD Price Performance: 7.52%
Average Trading Volume: 1,335
Current Market Cap: ILS86.35M
For a thorough assessment of PHTM stock, go to TipRanks’ Stock Analysis page.