The Marketing Alliance Announces Share Repurchase Program

ST. LOUIS, Mo., Nov. 04, 2024 (GLOBE NEWSWIRE) -- The Marketing Alliance, Inc. (OTC: MAAL) (“TMA” or the “Company”), announced today the Company's Board of Directors has authorized a share repurchase program to repurchase up to 800,000 shares of the Company's issued and outstanding common stock, effective immediately and concluding September 30, 2025. Concurrent with this authorization the Board of Directors has decided to discontinue paying dividends effective immediately.

Timothy Klusas, the Company's President and Chief Executive Officer, stated, “The share repurchase authorization represents our financial strength and commitment to enhance shareholder value, and the Board’s willingness to change tactics to do so. The Board recognized, nor did it take lightly, that this action would be a significant change in our shareholder distribution strategy of paying dividends, which the Company has paid consistently since its founding in 1996. The Board arrived at this decision after monitoring the stock price while paying dividends and has concluded in its judgement that its dividend policy was not adequately reflected in the stock price.”

Mr. Klusas concluded, “A key part of this decision was to continue to invest in the operating business. In just the last 90 days, the Company has filled two key open leadership roles, introduced a new logo to reflect a more modern customer-centric company, and integrated new tools and technologies on to our platform for customers to save time, save expense, and drive better outcomes for their customers, which has been our hallmark.”

Repurchases under the program may be made through privately negotiated transactions or open market transactions, including pursuant to a trading plan in accordance with Rule 10b5-1 and/or Rule 10b-18 under the Securities Exchange Act of 1934, as amended. The timing, number and purchase price of shares repurchased under the program, if any, will be determined by management in its discretion and will depend on a number of factors, including the market price of the shares as a percentage of tangible book value, general market and economic conditions, applicable legal requirements and other conditions, and there is no assurance that the Company will purchase any shares under the program.

The repurchase program may be suspended, terminated or modified at any time for any reason, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity, and other factors deemed appropriate. These factors may also affect the timing and amount of share repurchases. The repurchase program does not obligate the Company to purchase any number of shares.

About The Marketing Alliance, Inc.

Headquartered in St. Louis, MO, TMA provides support to independent insurance brokerage agencies, with a goal of integrating insurance and “insuretech” engagement platforms to provide members value-added services on a more efficient basis than they can achieve individually.

Investor information can be accessed through the shareholder section of TMA’s website at: 

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TMA’s common stock is quoted on the OTC Markets () under the symbol “MAAL”.

Forward Looking Statement

This press release contains forward-looking statements including, among other things, statements regarding our intended share repurchases and expected shareholder benefits. Any forward-looking statements contained in this press release represent our estimates, expectations or intentions only as of the date hereof, or as of such earlier dates as are indicated, and should not be relied upon as representing our views as of any subsequent date. These statements involve a number of risks, assumptions and uncertainties. If the risks materialize, assumptions prove incorrect, or we experience unexpected changes in circumstances, actual results could differ materially from the results implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, expectations of the economic environment, material adverse changes in economic conditions and the other risks contained in our other public disclosures discussing our business and financial condition and results. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so.