Lapolla Industries (LPA) Announces $10M Share Buyback

Logistic Properties of the Americas (NYSE American: LPA) (together with its subsidiaries, “LPA” or the “Company”), announced today that its Board of Directors has authorized a 12-month share repurchase program (the "Program") to buy back up to $10 million of the Company's outstanding ordinary shares, effective November 22, 2024. Under this program, LPA may repurchase its shares from time to time, based on equity market conditions, legal requirements, and other corporate considerations, under a 10b5-1 plan or similar trading arrangement. The Company intends to fund any repurchase of its shares using cash from operations. Any repurchased shares will be held in LPA’s treasury.

Esteban Saldarriaga, Chief Executive Office of LPA, said, “Our decision to initiate this share repurchase program underscores our confidence in the strength of our business and our commitment to delivering long-term value to our shareholders. By repurchasing shares, we aim to address the current market dislocation in our stock and highlight the intrinsic value of our extensively dollar-denominated real assets and platform, supported by creditworthy multinational customers.”

LPA’s share repurchase program may be discontinued at any time by the Board of Directors, and the Company has no obligation to repurchase any amount of its ordinary shares under the program. The Company intends to enter into a 10b5-1 trading plan (the "Plan") to facilitate share repurchases under the Program. The Plan will be administered through an independent broker and will be subject to the rules of NYSE American and applicable securities laws and regulations, including Rule 10b-18 and 10b5-1 of the Securities Exchange Act of 1934, as amended (The "Exchange Act"). The Company intends to make all repurchases in compliance with applicable regulatory guidelines and to administer the plan in accordance with applicable laws, including Rule 10b-18 and Rule 10b5-1 of the Exchange Act.

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