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Kambi Group plc initiates share repurchase programme

Published

5 months ago

November 6, 2024

Adrienn Sarkany

Reading Time: < 1 minute

Following the announcement of its capital allocation strategy on 23 May 2024, The Board of Directors of Kambi has, empowered by a mandate received at the Extraordinary General Meeting (EGM) on 20 June 2024, decided to initiate a share buyback programme. The objective of the buyback is to achieve added value for Kambi´s shareholders and to give the Board increased flexibility with Kambi´s capital structure by reducing the capital.

Kambi has entered into an irrevocable agreement with Carnegie Investment Bank AB (Carnegie) to conduct the share repurchases on its behalf. The acquisition of shares shall take place on one or several occasions on Nasdaq First North Growth market in Stockholm and Carnegie will make its trading decisions in relation to Kambi’s shares independently of and without influence by Kambi and in accordance with the Maltese Companies Act, EU Market Abuse Regulation No 596/2014 (“MAR”) and other applicable rules.

Share repurchases are to be made at a price per share within a defined range. Share repurchases are to be made at a price per share within the recorded interval at any given time, i.e. the interval between the highest buying price and the lowest selling price. Total share repurchases under the programme may not exceed €12 million. Payments for the shares are to be made in cash.

According to the EGM resolution, the maximum number of shares that may be acquired during this mandate is 3,127,830 which was equivalent to 10% of total share in the Company at that time. Acquisitions can be made as of today, 6 November 2024.

At the time of this announcement, the total number of issued shares in Kambi Group is 31,278,297. Kambi currently holds 1,374,678 of its own shares from prior repurchase programmes

Related Topics:Kambi Group plc

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Adrienn Sarkany

Hello there! I'm a 21-year-old university student majoring in Finnish and Korean Language and Literature. I have a deep passion for art and a profound connection to the natural world. My journey through life has been a colorful one, driven by my love for creativity, music, and the wonders of the great outdoors. As a dedicated student, I've already earned a degree in Classic Cantos, a testament to my appreciation for the timeless beauty of classical music. Beyond the classroom, my artistic spirit thrives through my love for painting and drawing. These creative outlets allow me to express my thoughts and emotions, transforming blank canvases into vibrant stories. My interests go far beyond music and art. Singing, playing the piano, and exploring new melodies are integral parts of my life, providing me with both solace and exhilaration. When I'm not immersed in the world of art and music, I find solace in nature's embrace. My heart is drawn to animals and the serene beauty of the natural world, fueling my desire to protect and preserve our precious environment.