BuybackJun 12, 2026, 05:21 PM
Rezolve AI Board Authorizes $300M Share Buyback, Capital Reduction
AI Summary
Rezolve AI PLC announced that its Board of Directors will seek shareholder approval at the upcoming Annual General Meeting on June 30, 2026, for a capital reduction and a share repurchase program of up to $300 million. The capital reduction involves cancelling A 480 million from the share premium account to create a distributable reserve, which can be used to offset negative accumulated balances and fund share buybacks. The company intends to commence repurchases using existing cash reserves, reflecting the Board's confidence in the company's long-term prospects and belief that the current market valuation undervalues the business.
Key Highlights
- Shareholders to vote on a share repurchase program up to $300 million.
- Proposed capital reduction of A 480 million from the share premium account.
- Annual General Meeting (AGM) scheduled for June 30, 2026.
- Buyback contract authority to expire on June 29, 2031.
- Company expects court approval for capital reduction by end of August.
- Board recommends voting in favor of all resolutions.
- Re-election of Stephen Perry, Derek Smith, Sir David Wright, and Anthony Sharp as directors.
- Appointment of Macalvins Limited as auditor for the year ended December 31, 2026.
Price Impact
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