Enerkon Solar International Inc. (ENKS) Announced a Major Stock Buy Back Today, Significantly Reducing the Company's Outstanding Common Stock, "Raising Shareholder Book Value per Share"
New York, New York--(Newsfile Corp. - May 20, 2021) - Today, Enerkon Solar International Inc. (OTC Pink: ENKS) an international holding company - consisting of 6 companies incorporated in the USA and UK - investing in major top market segments (Renewable Energy, Solar - Hydrogen Production, New Disruptive Technologies, Patents and Trademarks, Biotech, Defense, and other vibrant market segments) issued the following statement through the Companies CEO MR. Benjamin Ballout who stated:
"Today the company agreed to embark on a robust share buyback campaign which includes an initial purchase starting today, of 25,250,000. Common shares of stock currently owned by the company chairman."
"These shares have been held over 3 years and are eligible for sale as free trading shares pursuant to rule 144 and other regulations pertaining to such stock sales and holding time requirements - however, I am not interested in selling my shares on the open market whatsoever - rather just the opposite - my goals and aspirations, are for long-term growth and success of the company and its operations only."
"I have no intention to sell any of my shares on the public market or to outsiders and therefore have agreed to allow the company to repurchase a majority of my common shares."
"It will benefit the public shareholders in general, as the effects of the action will be the contraction in outstanding common stock, which will raise the Per Share 'book value' accordingly, without having to resort to a reverse split which is not popular with companies or shareholders."
"These actions are taken as a prelude to Up List Plans to the NASDAQ market which maintains a minimum share entry price of $4.00 to qualify for listing on the national exchange."
"It does not guarantee the PPS will rise to $4.00 and the company may be required to institute additional share repurchase actions, in the coming week(s), in addition to the Twenty-Five Million Two Hundred and Twenty-Five thousand Shares (25,225,000) repurchase by ENKS from my holdings."
"Further shares are expected to be repurchased from other, shareholders - holding restricted common shares and possibly an additional offer for an open market free trading share buyback thereafter, if the Price Per Share has not reached the 'minimum listing price per share requirements as per the NASDAQ rules and regulations' for Listing and maintenance."
In other News, ENKS Pennsylvania Solar/Hydrogen Land Purchase and Project Development continues to progress with management having a technical zoom call with Energy Giant Siemens Hydrogen Turbine and Production Expert Engineers this week to discuss the parameters of the project and any potential relationship with them as a primary EPC contractor for the project with ENKS as project owner.
Further in line with this new focus on Hydrogen production plant investment and establishment in PA USA - and other countries, the company has been invited to establish a small Hydrogen /Solar Plant in Cyprus in partnership with a significant partner in the country whereby the proposed joint venture, will include several small to medium sized productions facilities, some using land with already existing Solar or Wind Power being produced, where ENKS will shunt this power output into Electrolysis units, for the Production of GREEN HYDROGEN, which will them be sold to the EU market - Primarily Germany, where the company already has preliminary offtake agreements (Purchase agreements contingent upon production and delivery at market prices).
The foregoing statements are forward-looking statements, and as such, they may or may not reflect the results which could transpire in the future which should be negative or not transpire at all due to circumstances or other reasons and investors, shareholders, or others should not rely on these forward-looking statements to ascertain any value if any of ENKS or to make any investment decisions and to take note that this is not an offer to buy or sell securities or an endorsement of ENKS for investment purposes as all investment carry a risk of loss sometimes a total loss of your investment in Micro cap shares markets or any market and therefore such statements or plans should not be relied upon for any business decisions of any kind - Approval and permissions required by federal regulations may or may not be approved and if not approved may result in the loss of all value and all investments in products requiring such regulatory permissions to market and sell. These statements are made as forward-looking statements for educational purposes only in accordance with the rules and regulations which pertain to the same.
New HQ Address in New York at:
Enerkon Solar International Inc
477 Madison Avenue
New York, NY 10022 USA
Tel. +1 (877) 573-7797
Tel. +1 (718) 709-7889
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/84642