Kambi Group plc initiates share repurchase programme
In line with the recently announced capital allocation strategy, the Board of Kambi Group plc has decided to exercise the buyback mandate which was received at the Extraordinary General Meeting on 20 June 2024. The buyback programme will run until 20 May 2025, up to a total of €12 million.
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. Information on completed buybacks will also be available on the company’s website, www.kambi.com.
