Kambi Group plc proposes new long-term capital allocation strategy
In line with its recently stated intention, the Board of Directors of Kambi Group plc today announces its capital allocation strategy: to return capital to shareholders through share buybacks while preserving sufficient capital for the Company’s operational requirements.
The Company will maintain a minimum cash balance which the Board will review on a regular basis, taking into account the need to fund acquisitions if and when they arise. Maintaining this balance will provide a level of flexibility sufficient to fund Kambi’s working capital needs as well as set aside an appropriate operating reserve for unexpected events. Any cash resources above this minimum cash balance will be returned to shareholders.
As part of the strategy, the notice for the upcoming Extraordinary General Meeting includes a resolution to obtain the authority to acquire up to 10% of the total shares in the Company.