The board of directors of Kambi Group has decided to exercise the buyback mandate received at the extraordinary general meeting on June 20.
Press release.- Following the announcement of its capital allocation strategy on May 23, 2024, the board of directors of Kambi Group, empowered by a mandate received at the extraordinary general meeting (EGM) on June 20, 2024, has decided to initiate a share buyback program. The purpose of the buyback is to achieve added value for Kambi's shareholders and to give the Board more flexibility with Kambi's capital structure by reducing the capital.
Kambi has signed an irrevocable agreement with Carnegie Investment Bank AB (Carnegie) to carry out the share buybacks on its behalf. The acquisition of shares will be carried out on one or more occasions on the Nasdaq First North Growth Market in Stockholm, and Carnegie will make its trading decisions regarding Kambi's shares independently and without influence from Kambi and in accordance with the Companies Act of Malta, the EU Market Abuse Regulation No. 596/2014 ("MAR"), and other applicable rules.
The share buybacks will be made at a price per share within a defined range. The share buybacks must be carried out at a price per share within the range recorded at each moment, that is, the range between the highest purchase price and the lowest selling price. The total of share buybacks under the program cannot exceed 12 million euros. The payment for the shares will be made in cash.
According to the resolution of the EGM, the maximum number of shares that can be acquired during this mandate is 3,127,830, which is equivalent to 10 percent of the total number of shares of the company at that time. The acquisitions may be made starting today, November 6, 2024.
