LONDON--(BUSINESS WIRE)--The Board of Unibet Group plc (STO:UNIB) has decided to start exercising the buy-back mandate which was received at the Annual General Meeting on 17 May 2016.
The authority received on 17 May 2016 was regarding the buy back of a maximum number of 23,011,704 GBP 0.000625 Ordinary Shares/SDR´s in the Company.
Acquisitions can be made as of 22 September 2016 until next year’s Annual General Meeting. However no acquisitions will be made during a 30-day period prior to the publication of quarterly results.
Acquisitions of shares/SDRs may only take place on Nasdaq Stockholm at a price within the at each time prevailing price interval, being the interval between the highest buying price and the lowest selling price.
Notification of any purchases will continuously be made to the Nasdaq Stockholm.
The objective of the buyback is to achieve added value for the Company´s shareholders and to give the Board increased flexibility with the Company´s capital structure.
Following repurchase the intention of the Board is to either cancel, use as consideration for an acquisition or issue to employees under a Share Incentive programme.
Once repurchased under the Maltese Companies Act further shareholder approval will be required if the shares are to be cancelled.
If used in connection with an acquisition, the intention would be to issue the shares/SDR´s as consideration, and not to sell them first.
The total number of issued shares/SDRs in Unibet Group is 230,126,200 of which 381,144 shares/SDRs are held by the Company as a result of share buy back programmes in 2007 and 2011.
Board of Directors
Unibet Group plc
About Unibet Group
Unibet Group is one of Europe’s largest listed online gambling operators and is listed on Nasdaq Stockholm. Unibet Group provides services in 20 languages to over 15.3 million customers in over 100 countries through several subsidiaries and brands. Unibet Group is a member of the EGBA, European Gaming and Betting Association, RGA, Remote Gambling Association in the UK and is audited and certified by eCOGRA in relation to the pan-European CEN standard on consumer protection and responsible gaming.
More information about Unibet Group plc can be found on www.unibetgroupplc.com and twitter.com/UnibetGroup.
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