Kambi Group plc completes share buyback program
Kambi has recently completed its share buyback program, which took place from 13 May to 17 May 2024. During this period, the company repurchased a total of 92,000 ordinary B shares at a volume-weighted average price of 104.89 SEK. Since the start of the program on 18 March, Kambi has repurchased a total of 479,086 ordinary B shares at an average price of 96.49 SEK per share.
Objective of the Share Buyback Program
The main objective of the share buyback program was to create added value for Kambi’s shareholders and provide the company’s Board with increased flexibility in managing Kambi’s capital structure. By reducing the capital through repurchasing shares, the company aimed to optimize its capital allocation strategy. The share buyback program was conducted in compliance with relevant regulations, including the Maltese Companies Act and the EU Market Abuse Regulation.
Details of Share Repurchase During the Buyback Period
| Date | Aggregated daily volume (number of ordinary B shares) | Weighted average share price per day (SEK) | Total daily transaction value (SEK) |
| 13 May 2024 | 20,000 | 105.08 | 2,101,612 |
| 14 May 2024 | 25,000 | 107.22 | 2,680,383 |
| 15 May 2024 | 30,000 | 104.99 | 3,149,601 |
| 16 May 2024 | 15,000 | 101.23 | 1,518,519 |
| 17 May 2024 | 2,000 | 99.98 | 199,958 |
All share repurchases were executed on Nasdaq First North Growth Market in Stockholm by Carnegie Investment Bank AB on behalf of Kambi. As of 17 May 2024, Kambi held a total of 1,374,678 of its own shares out of a total of 31,278,297 ordinary B shares issued. The company was authorized under the program to repurchase a maximum of 3,127,830 ordinary B shares, up to a maximum amount of €4.0 million.