The board of directors of G5 Entertainment utilizes authorization of repurchase of own ordinary shares
The board of directors of G5 Entertainment AB (publ) (the “Company” or “G5 Entertainment”) has resolved to initiate repurchase of ordinary shares through authorization by the Annual General Meeting in the Company on June 15, 2022. The purpose with the authorization is to provide the Board with greater possibilities to adapt the capital structure of the Company to the capital requirement from time to time and thus be able to contribute to increased shareholder value. In addition, the authorization intends to enable the board to transfer shares in connection with acquisitions of companies through payment in the form of the Company's own shares or to use repurchased shares to settle the Company’s long term incentive program which entails a lower future dilution.
Repurchase of ordinary shares may be executed, on one or several occasions, until the end of the next annual general meeting in the Company. However, the holding of own shares may not at any time correspond to more than ten (10) percent of the total number of shares in the Company. At the time of this press release the Company already holds 172,200 own class C shares and 493,650 ordinary shares. Of the ordinary shares held by the company, 150,000 will be expunged after the decision by the annual general meeting. After the expunction the company may repurchase a maximum of 394,735 ordinary shares. Repurchase shall be made at a price per share within the price range of Nasdaq Stockholm at any given time, which means the interval between the current highest purchase price and the lowest selling price published on a regular basis by Nasdaq Stockholm. Payment for the shares shall be paid in cash.
At the date of announcement of this press release, the Company holds 172,200 own class C shares and 493,650 own ordinary shares, corresponding to 7.31 percent of the total number of shares in the Company. This disclosure contains information that G5 Entertainment AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 16-06-2022 19:30 CET.
For additional information, please contact:
Stefan Wikstrand, CFO, +46 76 00 11 11 5