5.4M Archives - Keno Wizard https://kenowizard.com/tag/5-4m/ The Ultimate Keno Destination for Odds, Tips & Tricks Mon, 17 Jul 2023 18:48:26 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.1 https://i0.wp.com/kenowizard.com/wp-content/uploads/2023/02/cropped-keno-wizard-icon.png?fit=32%2C32&ssl=1 5.4M Archives - Keno Wizard https://kenowizard.com/tag/5-4m/ 32 32 230792155 Catena Media Unveils $5.4M Share Buyback Program https://kenowizard.com/2023/07/17/catena-media-unveils-5-4m-share-buyback-program/ https://kenowizard.com/2023/07/17/catena-media-unveils-5-4m-share-buyback-program/#respond Mon, 17 Jul 2023 18:48:26 +0000 https://kenowizard.com/2023/07/17/catena-media-unveils-5-4m-share-buyback-program/ Catena Media, a global leader in generating high-value leads for operators of online casino and sports betting platforms, has unveiled a new SEK 55 million ($5.36 million, current conversion rates) share buyback program. The buyback was approved by the company’s board of directors during the extraordinary general meeting on July 12 and following an initial [...]

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Catena Media, a global leader in generating high-value leads for operators of online casino and sports betting platforms, has unveiled a new SEK 55 million ($5.36 million, current conversion rates) share buyback program.

The buyback was approved by the company’s board of directors during the extraordinary general meeting on July 12 and following an initial resolution from May 24.

As announced by the company, the share buyback program will be managed by a third-party investment firm or credit institution that will independently make decisions on the timing of the buybacks. Any acquisition of Catena Media’s own shares will be made on Nasdaq Stockholm, Catena Media added.

Catena Media also noted that the goal of the initiative is to improve shareholder value while optimizing the company’s capital structure through a reduction of its share capital. To that end, Catena Media also plans subsequent cancellation of repurchased shares.

Catena Media explained that the program will take all applicable regulations in mind, including the rules of Nasdaq’s Nordic Main Market Rulebook for Issuers of Shares.

The Program Must Follow Five Conditions

Catena Media outlined five major conditions that its share buyback program must follow:

First of all, the buybacks will be made on one or several occasions by December 31. In addition, the maximum price of shares that the company may buy back is SEK 55 million ($5.36 million).

Furthermore, Catena Media noted that shares may be repurchased to the extent that Catena Media’s holdings of its own shares do not surpass 10% of its total issued share capital and that the total number of shares should not exceed 7,203,534 shares.

The fourth condition is that Catena Media may only repurchase shares at a price within the price interval recorded on Nasdaq Stockholm. Finally, Catena Media must make all payments in cash.

Catena Media noted that it currently holds around 0.8% of its ordinary shares (614,193). For reference, the company has a total of 78,769,812 outstanding shares.

The company promised to keep releasing updates on the repurchases of its own shares, as required by Nasdaq Stockholm’s rules.

Last month, Catena Media confirmed its plans to launch in North Carolina next year. The announcement coincided with the legalization of betting and the expected launch of a local market in 2024.

In May, the company published its Q1 report, demonstrating strong results in spite of a slight revenue dip.

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