Bloomberry unit buys 1.5 million parent shares for patrons

A subsidiary of Bloomberry Resorts Corp (BRC) on Friday announced it has been granted approval to purchase an additional 1.5 million shares of the company, which will be given as a reward to Solaire’s loyal patrons.

“The board of directors of Bloomberry Resorts and Hotels, Inc. (BRHI) in a board resolution dated June 6, 2018 authorized the company to purchase up to 1.5 million additional shares of BRC through the stock market at market price,” said Bloomberry Resorts Corp in a filing to the PSE last week.

“These shares shall be given as a reward to Solaire’s loyal patrons and as part of Solaire’s marketing program,” it added.

So far, the subsidiary, Bloomberry Resorts and Hotels Inc BRHI) has acquired 486,400 shares of BRC

In January of this year, BRHI bought 2 million shares of the company under the same program.