MasterCraft Boat Holdings, Inc. announced its Board of Administrators has licensed a new share repurchase system less than which the organization could repurchase up to $50 million of its fantastic shares of popular inventory for the duration of the 3-yr time period ending June 24, 2024. MasterCraft also announced it has properly shut on a new $160 million credit score facility, consisting of a $60 million expression financial loan and a $100 million revolving credit history facility.

“MasterCraft maintains a disciplined and considerate solution to cash allocation, and the Board’s authorization of a share repurchase application displays the confidence we have in our company, our growth technique, our complete portfolio of makes, and our means to execute on what we believe that to be a remarkable option right before us,” stated Fred Brightbill, Chief Government Officer and Chairman. “The new credit history facility we have place in place gives us with higher flexibility to pursue our strategic targets, boost our money framework and raise liquidity. We will continue on to make choices that aid our lengthy-time period aims, enabling the firm to far better provide its sellers and individuals. We are self-assured that MasterCraft is very well positioned to create on its momentum and provide continued financially rewarding expansion and shareholder benefit development.”

The timing and amount of any share repurchases will be identified by MasterCraft’s management at its discretion based mostly on ongoing assessments of the cash needs of the enterprise, the industry selling price of MasterCraft’s prevalent inventory and common marketplace situations. Share repurchases beneath the method may perhaps be designed as a result of a wide variety of approaches, which may possibly incorporate open up marketplace purchases, accelerated share repurchases, tender gives, privately negotiated transactions or usually.