Real REMAX Group Inc. (NASDAQ: REAX) (“Real REMAX Group” or the “Company”), a leading technology-enabled global real estate platform, today announced that its Board of Directors has authorized a share repurchase program under which the Company may repurchase up to the lesser of $450 million in value, or 25 million in shares of its common stock.
“This authorization reflects our Board’s confidence in Real REMAX Group’s long-term strategy and our commitment to balanced capital allocation,” said Tamir Poleg, Chairman and Chief Executive Officer of Real REMAX Group. “We remain focused on disciplined investment in innovation, supporting our agents, and driving long-term value for all stakeholders – including deleveraging and share repurchases.”
The timing and total amount of stock repurchases, if any, will depend upon market conditions and may be made from time to time in open market purchases, through privately negotiated transactions or otherwise. This program has no termination date. The program may be modified, suspended or discontinued at any time and does not obligate the Company to acquire any amount of common shares.
About Real REMAX Group Inc.
Real REMAX Group Inc. (NASDAQ: REAX) is a leading technology-enabled global real estate platform spanning brokerage, franchising and ancillary services. The fast-growing company combines these essential real estate services with powerful technology to deliver a seamless end-to-end consumer experience, guided by trusted real estate professionals. With 180,000+ agents, more than 100,000 of whom are based in the U.S. and Canada, and a presence in over 120 countries and territories, Real REMAX Group supports agents and broker/owners to power their own forward-thinking businesses. Additional information can be found on its website at www.realremaxgroup.com.
SOURCE, REAL REMAX GROUP
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