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Kambi Group plc Repurchases 50,000 Shares

Kambi Group plc Repurchases 50,000 Shares
by
April 16, 2024
in Finance News, iGaming News
87

Kambi Group plc (“Kambi”) executed a share buyback program from April 8 to April 12, 2024. This initiative falls within the framework approved at the Extraordinary General Meeting held on June 19, 2023, showcasing Kambi’s commitment to strategic financial management.

Objective of the Share Buyback Program

The primary goal of the share buyback program, also referred to as the “Programme,” is to generate added value for Kambi’s shareholders. Additionally, it offers the Board increased flexibility in managing Kambi’s capital structure by reducing capital. This strategic move aligns with Kambi’s vision for sustainable growth and shareholder returns.

Compliance and Regulatory Framework

The execution of the share buyback program adheres to the regulatory guidelines stipulated under the Maltese Companies Act, the EU Market Abuse Regulation No 596/2014 (“MAR”), and the Commission Delegated Regulation (EU) No 2016/1052, commonly known as the “Safe Harbour Regulation.” By operating within the bounds of these regulations, Kambi ensures transparency and accountability in its financial transactions.

Key Highlights of the Buyback Period

During the designated Buyback Period, Kambi repurchased a total of 50,000 ordinary B shares. The transactions were conducted on the Nasdaq First North Growth Market in Stockholm, facilitated by Carnegie Investment Bank AB, acting on behalf of Kambi. Notably, the repurchase was executed at a volume-weighted average price of 90.27 SEK per share, reflecting Kambi’s strategic approach to capital management.

Cumulative Impact and Shareholder Value

Since the initiation of the Programme on March 18, Kambi has repurchased a cumulative total of 177,000 ordinary B shares. This activity underscores Kambi’s commitment to enhancing shareholder value over the long term. The volume-weighted average price of shares repurchased until April 12, 2024, stands at 92.77 SEK per share, signaling confidence in Kambi’s growth trajectory and financial performance.

Current Shareholding and Program Authorization

As of April 12, 2024, following the share repurchases, Kambi holds a total of 1,072,592 of its own shares. Considering the total number of issued shares in Kambi, which amounts to 31,278,297 ordinary B shares, the company maintains a strategic position in its shareholding structure. Notably, under the Program, Kambi is authorized to repurchase a maximum of 3,127,830 ordinary B shares, with a cap of €4.0 million, reflecting prudent financial planning and capital allocation strategies.

Implications for Shareholders and Stakeholders

The execution of the share buyback program underscores Kambi’s commitment to delivering sustainable value to its shareholders. By reducing the outstanding share count, Kambi aims to enhance earnings per share (EPS) and return on equity (ROE), signaling confidence in its financial outlook and growth prospects. Furthermore, the repurchase program augments liquidity in the market, potentially influencing share price dynamics and investor sentiment positively.

Future Outlook and Strategic Initiatives

Looking ahead, Kambi remains focused on driving sustainable growth and maximizing shareholder returns through prudent capital allocation and strategic investments. The successful execution of the share buyback program underscores Kambi’s ability to navigate dynamic market conditions while maintaining a steadfast commitment to shareholder value creation.

Conclusion

In summary, Kambi’s recent share buyback program exemplifies its proactive approach to capital management and commitment to enhancing shareholder value. By adhering to regulatory guidelines and strategic financial planning, Kambi aims to fortify its position in the market while delivering sustainable returns to its shareholders.

FAQs:

What is Kambi Group plc’s objective behind the share buyback program?
Kambi aims to enhance shareholder value and increase flexibility in its capital structure through the share buyback program.

How does Kambi ensure compliance during the share buyback process?
Kambi adheres to regulatory frameworks such as the Maltese Companies Act, EU Market Abuse Regulation, and Safe Harbour Regulation to ensure transparency and accountability.

Who facilitates the share repurchase transactions on behalf of Kambi?
Carnegie Investment Bank AB conducts share repurchase transactions on behalf of Kambi, operating on the Nasdaq First North Growth Market in Stockholm.

What is the total number of shares repurchased by Kambi during the Buyback Period?
Kambi repurchased a total of 50,000 ordinary B shares during the designated Buyback Period.

How does the share buyback program impact Kambi’s capital structure?
The share buyback program aims to reduce capital, providing Kambi with increased flexibility in managing its capital structure.

What is the volume-weighted average price of shares repurchased by Kambi?
The volume-weighted average price of shares repurchased by Kambi during the Buyback Period was 90.27 SEK per share.

What is the cumulative total of shares repurchased by Kambi since the initiation of the Programme?
Kambi has repurchased a cumulative total of 177,000 ordinary B shares since the initiation of the Programme.

What is the current shareholding of Kambi following the share repurchases?
As of April 12, 2024, Kambi holds a total of 1,072,592 of its own shares.

What is the maximum number of shares authorized for repurchase under the Program?
Under the Program, Kambi is authorized to repurchase a maximum of 3,127,830 ordinary B shares.

What is the strategic significance of Kambi’s share buyback program for shareholders?
The share buyback program signals Kambi’s commitment to delivering sustainable value to shareholders and enhancing earnings per share (EPS) and return on equity (ROE).

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