California First Leasing Corporation (OTCPK:CFNB) announces a share repurchase program. Under the program, the company will repurchase up to 200,000 shares, representing 2.06% of its outstanding shares, for $3.3 million. The shares will be repurchased at a price of $16.50 per share.

The purpose of the program is to provide value to shareholders. The company will fund the tender offer with cash on hand. If more than 200,000 shares are validly tendered in the tender offer and not validly withdrawn, the company reserve the right to accept for purchase at the purchase price pursuant to the tender offer up to an additional 2% of our outstanding shares without extending the tender offer.

If the offer is over subscribed then the company will first repurchase all shares tendered by all holders of ?odd lots? and then it will purchase all other shares tendered on a pro rata basis. The offer will expire on December 4, 2023, unless extended or terminated.

As of October 23, 2023, the company had 9,703,456 shares outstanding.