Limoneira authorizes $30M buyback, ends strategic alternatives review

Limoneira CO

Board approved up to $30M share repurchase program; purchases may be made in open market or private transactions.
Formally concluded strategic alternatives process announced Dec 2023; no deal was reached.
CEO states buyback reflects board confidence that current share price undervalues portfolio opportunities.
Value creation roadmap includes non-core asset sales, real estate development at Harvest, land-use conversion, water monetization, and avocado expansion.
Repurchase program may be modified or suspended at any time; no commitment to repurchase any specific number of shares.

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