INX can buy up to $ 5 million in INX tokens
NEW YORK, 20 December 2021 / PRNewswire / – INX Limited (INX ATS: INX), (âthe Companyâ or âINX Limitedâ), owner of blockchain-based trading platforms for digital securities and cryptocurrencies, today announced that its board of directors (the “board”) has authorized a token buyback program under which the Company may buy back up to $ 5 million of its exceptional INX tokens.
The Company intends to start the program on or about January 1, 2022 and the program will last until the end of December 2022 or up to $ 5 million INX tokens were redeemed and withdrawn. The timing and actual number of INX tokens redeemed will depend on a variety of factors, including price, general business and market conditions, alternative investment opportunities and applicable regulatory requirements.
As part of the buyback program, redemptions may be made from time to time using a variety of methods, including open market purchases, all in accordance with the rules of the United States Securities and Exchange Commission and ‘other applicable legal requirements. The buyback program does not require the Company to acquire any particular amount of tokens, and the buyback program may be suspended or discontinued at any time at the discretion of the Company.
About INX Limited
INX has regulated trading platforms for digital securities and cryptocurrencies, combining traditional market expertise with an innovative approach to financial technologies. INX’s vision is to be the preferred global regulated hub for digital assets on the blockchain. INX’s overall mission is to bring communities together and empower them through financial innovation. INX’s journey started with its initial public offering of INX tokens in which it raised 83 million US dollars. INX is shaping the blockchain asset industry through its willingness to work in a regulated environment under the oversight of regulators such as the SEC and FINRA.
In addition to operating two regulated trading platforms for blockchain assets, its cross-industry broker, ILS Brokers, plans to offer undeliverable cryptocurrency transfers to Tier 1 banks in the near future. For more information, please visit the INX website here.
Certain of the statements contained in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you may identify forward-looking statements by words such as “may”, “will”, “” should “,” Expects “,” plans “,” plans “,” anticipates “,” believes “,” estimates “,” foresees “,” potential “,” intends “or” continues “or the negative of these terms or other comparable terminology. These forward-looking statements may include, without limitation, statements relating to our objectives, plans and strategies; statements containing projections of operating results or financial position; statements relating to the research, development and use of our products; and all statements (other than statements of historical fact) that deal with activities, events or developments that we intend, expect, plan, believe or anticipate will or may occur in the future. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. We have based these forward-looking statements on assumptions and assessments made by our management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they deem appropriate. These statements are current forecasts only and are subject to known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements or those of our industry to be materially. different from those anticipated by the declarations. We discuss many of these risks in more detail in our Annual Report on Form 20-F for the year ending. December 31, 2020, filed with the Securities Exchange Commission on April 29, 2021, including under the headings âRisk Factorsâ and âCaution Regarding Forward-Looking Statementsâ. You should not rely on forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable as of the date hereof, we cannot guarantee future results, levels of activity, performance or achievements. Except as required by law, we are under no obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise.
Business Manager, INX Limited
Email: [email protected]