G5 Entertainment AB (OM:G5EN) commences an Equity Buyback Plan for 242,935 shares, representing 2.79% of its issued share capital, under the authorization approved on June 14, 2023.
November 08, 2023 at 01:00 am EST
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G5 Entertainment AB (publ) (OM:G5EN) commences share repurchases in third quarter of 2023, under the program mandated by the shareholders in the Annual General Meeting held on June 14, 2023. As per the mandate, the company is authorized to repurchase 242,935 shares, representing 2.79% of its issued share capital, such that the company?s holding in treasury does not exceed 10% of its issued share capital at any time. The purpose of the authorization to improve the capital structure and contribute to increased shareholder value. The repurchases will be paid for in cash. The authorization is valid till the next annual general meeting. As of May 15, 2023, the company had 8,705,850 shares outstanding and 455,650 of its ordinary shares and 172,000 C shares in treasury.
On June 16, 2023, the company announced a share repurchase program. Under the program, the company will repurchase 227,798 ordinary shares. As of June 16, 2023, the company 172,200 own class C shares and 470,587 own ordinary shares in treasury.
G5 Entertainment publ AB is a Sweden-based developer and publisher of downloadable casual and free-to-play games for smartphones and tablets. The Company offers a range of game genres, such as Adventure & Hidden object and Strategy & Time management. Its product portfolio comprises two types of games: Free-to-play, providing The Secret Society, Virtual City, and Doomsday Preppers, among others, that are games based on a pay as you go model; and Unlockable, which supplies a try before you buy game model, included in Special Enquiry Detail, Supermarket Mania, as well as Stand OâFood. The Companyâs games are available on Appleâs iPhone and iPad, Mac, devices powered by Google Android and Windows 8, tablets and e-readers, such as Kindle Fire from Amazon. Furthermore, the Company is a parent of G5 Holdings Limited, G5 Holding RUS LLC, G5 Entertainment Inc and G5 Holding UKR LLC.
G5 Entertainment AB (OM: G5EN) commences an Equity Buyback Plan for 242,935 shares, representing 2.79% of its issued share capital, under the authorization approved on June 14, 2023.