Kambi Group Repurchases 55,000 B Shares, Implements Share Buyback Program

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Kambi Group, a leading provider of premium sports betting services to licensed B2C gaming operators, recently announced the successful completion of its share repurchase program. This strategic move underscores Kambi’s commitment to maximizing shareholder value and reinforcing its position as a trusted industry leader.

Kambi Group’s Share Repurchase Program

Details of the Share Repurchase Program

According to the announcement, Kambi Group has repurchased a total of 55,000 ordinary B shares between April 29 and May 3, 2024. The shares were acquired at a price of 99.16 SEK (approximately $9.16, current rates) per share. This repurchase initiative aligns with the share buyback program approved during the extraordinary general meeting on June 19, 2023.

Objectives and Flexibility

The primary objective of Kambi’s share buyback program is to generate additional value for its shareholders while providing the board of directors with increased flexibility. The program, which authorized the repurchase of up to 10% of its ordinary B shares, with a maximum amount of EUR 4 million ($4.31 million), reflects Kambi’s proactive approach to enhancing shareholder returns.

Compliance and Regulations

Kambi ensures strict adherence to regulatory frameworks outlined in the Maltese Companies Act, the EU Market Abuse Regulation No 596/2014 (MAR), Commission Delegated Regulation (EU) No 2016/1052 (Safe Harbor Regulation), and other applicable regulations. By complying with these regulations, Kambi maintains transparency and integrity in its share repurchase activities.

Execution and Results

The share buyback program, initiated on March 18 and concluded on May 3, 2024, resulted in the repurchase of 322,086 ordinary B shares at a volume-weighted average price of 92.87 SEK ($8.58) per share. All acquisitions were conducted on the Nasdaq First North Growth Market in Stockholm, with Carnegie Investment Bank facilitating the transactions on behalf of Kambi.

Current Share Ownership

As of May 3, Kambi owns 1,217,678 of its 31,278,297 ordinary B shares. This ownership structure reflects Kambi’s confidence in its business strategy and long-term growth prospects.

Expansion into Tribal Gaming

In addition to its share repurchase program, Kambi Group recently reinforced its presence in the tribal gaming sector through an extended partnership with Mohegan. As part of the agreement, Kambi will provide market-leading retail sportsbook solutions to Mohegan’s properties in Pennsylvania, including Mohegan Pennsylvania and Mohegan Pennsylvania at Lehigh Valley Race and Sportsbook. This collaboration underscores Kambi’s commitment to delivering cutting-edge sports betting experiences to diverse markets.

Conclusion: The Share Repurchase

Kambi Group’s completion of its share repurchase program reflects its dedication to enhancing shareholder value and maintaining financial flexibility. By adhering to regulatory standards and executing strategic initiatives, Kambi continues to position itself as a leading provider of premium sports betting services. As the company expands its footprint in both traditional and emerging markets, shareholders can expect continued growth and value creation.

FAQs About Kambi Group’s Share Repurchase Program

1. What is the purpose of Kambi Group’s share repurchase program?

Kambi Group’s share repurchase program aims to generate additional value for its shareholders while providing the board of directors with increased flexibility.

2. How many shares did Kambi repurchase during the program?

Kambi repurchased a total of 55,000 ordinary B shares between April 29 and May 3, 2024, at a price of 99.16 SEK per share.

3. What was the maximum amount authorized for the share buyback program?

The share buyback program authorized Kambi to repurchase up to 10% of its ordinary B shares, with a maximum amount of EUR 4 million ($4.31 million).

4. What regulations does Kambi comply with during the share repurchase program?

Kambi ensures compliance with regulatory frameworks outlined in the Maltese Companies Act, the EU Market Abuse Regulation No 596/2014 (MAR), Commission Delegated Regulation (EU) No 2016/1052 (Safe Harbor Regulation), and other applicable regulations.

5. How were the acquisitions conducted during the share repurchase program?

All acquisitions were carried out on the Nasdaq First North Growth Market in Stockholm, with Carnegie Investment Bank facilitating the transactions on behalf of Kambi.

6. What is Kambi’s current ownership of its ordinary B shares?

As of May 3, Kambi owns 1,217,678 of its 31,278,297 ordinary B shares, reflecting the company’s confidence in its business strategy and long-term growth prospects.

7. What additional initiative did Kambi recently undertake in the gaming industry?

Kambi extended its partnership with Mohegan, providing market-leading retail sportsbook solutions to Mohegan’s properties in Pennsylvania, including Mohegan Pennsylvania and Mohegan Pennsylvania at Lehigh Valley Race and Sportsbook.