Atlanta, GA -- January 11, 2024 --
InvestorsHub NewsWire -- UC Asset LP (OTCQB:
UCASU) announces today that the company has filed with SEC to
formally launch its stock buyback program.
In a Form 1-U filed by the company, it
states as follows:
"On January 10, 2024, the general
partner of our company authorized and approved a share repurchase
program of our current outstanding common units, over a period of
12 months, through open market purchases, for an unspecific total
amount no more than the net income of the company during the fiscal
year of 2023, at unspecific prices no more than the lowest ask
price at the time of execution of a purchase."
"Since our incorporation in the year
2016, we have built a solid business model, and have been reporting
profits in most of the years. We have also made two dividend
distributions, of which the recent one was executed in the year
2023, at $0.10 per share," says Larry Wu, founder of UC Asset.
"However, the trading activity of our common shares, as far as we
observe and understand it, has not always shown consistent
correlation to our profitability."
"For the common interest of our
shareholders, the management have decided that we should use part
of our net cash inflow to buy back our stocks," declares
Wu.
About UC Asset
LP
UC
Asset LP is a limited partnership formed for the purpose of
investing in real estate with innovative
strategies. For more information about
UC Asset, please visit: www.ucasset.com
Disclaimer:
This
News Release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements involve known and unknown risks,
uncertainties and other important factors that could cause our
actual results, performance or achievements, or industry results,
to differ materially from any these statements. You are cautioned
not to place undue reliance on any those forward-looking
statements. Except as otherwise required by the federal securities
laws, we undertake no obligation to publicly update or revise any
forward-looking statements after the date of this news release.
None of such forward-looking statements should be regarded as a
representation by us or any other person that the objectives and
plans set forth in this News Release will be achieved or be
executed.
For More Information
Contact: IR@UCasset.com