BRIEF-Points International Says Temporarily Suspended Share Buybacks Under Currently Outstanding NCIB
Reuters
Published Apr 06, 2020 16:49
April 6 (Reuters) - Points International Ltd PTS.TO :
* POINTS INTERNATIONAL REPORTS PRELIMINARY FIRST QUARTER 2020 RESULTS AND PROVIDES BUSINESS UPDATE IN RESPONSE TO COVID-19
* POINTS INTERNATIONAL LTD - SEES Q1 2020 GROSS PROFIT TO RANGE BETWEEN $13.6 MILLION AND $14.2 MILLION
* POINTS INTERNATIONAL LTD - Q1 2020 ADJUSTED EBITDA EXPECTED TO RANGE BETWEEN $3.2 MILLION AND $3.9 MILLION
* POINTS INTERNATIONAL LTD - AT MARCH 31, 2020, TOTAL FUNDS AVAILABLE STOOD AT ABOUT $107 MILLION, INCLUDING A $40 MILLION CREDIT FACILITY DRAWDOWN
* POINTS INTERNATIONAL - BEGINNING MID-MARCH, BEGAN TO SEE SIGNIFICANT DECLINE IN TRANSACTION VOLUMES
* POINTS INTERNATIONAL - EXPECT DECLINE IN TRANSACTION VOLUMES TO CONTINUE IN PARALLEL WITH COVID-19 TRAVEL & HOSPITALITY DISRUPTION
* POINTS INTERNATIONAL LTD - BELIEVE IT IS PRUDENT TO SUSPEND OUR PREVIOUSLY ISSUED FULL YEAR 2020 OUTLOOK
* POINTS INTERNATIONAL LTD - TEMPORARILY SUSPENDED SHARE BUYBACKS UNDER OUR CURRENTLY OUTSTANDING NCIB
* POINTS INTERNATIONAL - EVALUATING THIS NEW ECONOMIC ENVIRONMENT'S IMPACT ON LONGER-TERM GOALS
* POINTS INTERNATIONAL - IN LIGHT OF COVID-19 PANDEMIC, CO'S AGM HAS BEEN POSTPONED TO MAY 22 AT 2:00 P.M. (TORONTO TIME), WILL BE HELD IN VIRTUAL-ONLY FORMAT
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Written By: Reuters
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