Millicom International Cellular S.A. commences an Equity Buyback Plan for 17,180,369.6 shares, representing 10% of its issued share capital, under the authorization approved on May 31, 2023.
December 22, 2023 at 05:45 pm EST
Share
Millicom International Cellular S.A. (NasdaqGS:TIGO) commences share repurchases on December 19, 2023, under the program mandated by the shareholders in the Annual General Meeting held on May 31, 2023. As per the mandate, the company is authorized to repurchase up to 17,180,370 shares, being the maximum number of shares shall not exceed 10% of company's outstanding shares as of the date when the start of the share repurchase program is announced by press release. If the shares are repurchased on a regulated market, the price to be paid for such repurchases is the price per Share within the registered interval for the share price prevailing at any time (the so-called spread), that is, the interval between the highest buying rate and the lowest selling rate of the Shares on the market on which the purchases are made and if the shares are repurchased by any other way the shares will be repurchased at a price which may not be less than SEK 50 per share (or USD equivalent) and shall not exceed 110% of the most recent closing trading price of the Shares on the Nasdaq Stock Market in the U.S. The purpose of the repurchase program is to transfer all or part of the Shares repurchased under the Share Repurchase Plan to employees of the company in connection with any existing or future Millicom share-based incentive plans, to use the purchased Shares to meet obligations arising from debt financial instruments exchangeable into equity instruments, to use the repurchased Shares as consideration for merger and acquisition purposes, including joint ventures and the buy-out of minority interests in company?s subsidiaries or joint ventures, to cancel the repurchased Shares and Shares held in treasury from Shares repurchased under previous Share repurchase plans and for any other purpose not expressly prohibited by law. The authorization will be valid till next Annual General Meeting of the company. As of April 21, 2023, the company had 172,096,305 shares outstanding and had 854,177 shares in treasury.
On December 14, 2023, the company announced a share repurchase program. Under the program, the company will repurchase up to 2,000,000 SDRs, representing the company?s ordinary shares, for SEK 420 million. The repurchases will commence on December 18, 2023 and will be valid up to May 22, 2024, the date of company's next AGM. As of December 14, 2023, the company had 172,096,305 shares issued Including 292,609 shares in treasury.
Millicom International Cellular SA is a Luxembourg-based international digital telecommunications and media company. The Company provides a wide range of fixed line and mobile communications services, cable and satellite television, mobile financial services and local content, such as music and sports, to both private and business customers. It offers digital services and products through the business brands TIGO which includes TIGO Money for mobile financial services, TIGO Sports for local entertainment, TIGO ONEtv for pay TV, high-speed data, voice, and business-to-business solutions such as cloud and security. The segments include Latin America, which focuses on mobile and cable services; and Africa, which covers mobile services with a focus on business-to-business customers.
Millicom International Cellular S.A. commences an Equity Buyback Plan for 17,180,369.6 shares, representing 10% of its issued share capital, under the authorization approved on May 31, 2023.
MILLICOM INTERNATIONAL CELLULAR S.A. 
