Kambi Group plc initiates new share repurchase programme

The Board of Directors of Kambi Group plc has decided to further utilise the buyback mandate which was received at the Extraordinary General Meeting on 19 June 2023. The buyback programme will run until 20 May 2024, up to a total of €4.0 million.

The Board of Directors of Kambi Group plc (“Kambi”) has, empowered by a mandate received at the Extraordinary General Meeting (EGM) on 19 June 2023, decided to initiate a new share buyback programme, following on from previous programmes undertaken since the EGM. The objective of the buyback programme 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.

In addition, subject to shareholder approval at the 2024 Annual General Meeting on 21 May 2024, Kambi also intends to communicate a further longer-term strategic framework for share buybacks.

Anders Ström, Chair of the Board of Directors, said: “The Board’s primary responsibility is to generate value for Kambi’s shareholders. This commitment is reflected in our capital allocation priorities, which encompass our share buyback programmes designed to enhance shareholder value.”

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 (“First North”) market in Stockholm and Carnegie will make its trading decisions in relation to Kambi’s shares independently of and without influence by Kambi. The share buyback programme will be carried out in accordance with the Maltese Companies Act, the EU Market Abuse Regulation No 596/2014 (“MAR”), Commission Delegated Regulation (EU) No 2016/1052 (“Safe Harbour Regulation”) 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 price interval of First North 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 €4.0 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 shares in the Company at that time. The Company’s authority to buyback shares will expire at the annual general meeting to be held on 21 May 2024. Acquisitions can be made as of today, 18 March 2024.

At the time of this announcement, the total number of issued shares in Kambi Group is 31,278,297. Kambi currently holds 895,592 of its own shares from prior repurchase programmes. Information on completed buybacks will also be available on the company’s website, www.kambi.com.