Better Collective initiates share buyback program to cover debt related to acquisitions

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Regulatory release 8/2020 Better Collective A/S (the “Company”) has today initiated a share buyback program for up to EUR 5,000,000, to be executed during the period from March 19, 2020 to June 30, 2020. The purpose of the buyback program is to ...

Regulatory release 8/2020

Better Collective A/S (the “Company”) has today initiated a share buyback program for up to EUR 5,000,000, to be executed during the period from March 19, 2020 to June 30, 2020. The purpose of the buyback program is to cover debt related to prior acquisitions, where Better Collective have rights, and find it attractive, to partially make settlements in shares. 

The buyback program is being initiated pursuant to the authorization granted by the shareholders at the annual general meeting held on April 25, 2019 to repurchase up to 4,048,711 shares of EUR 0,01 each of the Company’s share capital in the period until the annual general meeting in 2020.

The Company has appointed Nordea as lead manager of the buyback program. Under the agreement with Nordea, Nordea will purchase shares on behalf of the Company and will make its trading decisions independently of, and without influence by the Company.

The buyback program is subject to the following terms:

  • The purpose of the program is to partially cover the Company’s debt obligations related to prior acquisitions, where Better Collective has rights to partially make settlements in shares.
  • Acquisition of shares shall take place on Nasdaq Stockholm in compliance with the Nasdaq Stockholm Rule Book for Issuers and the Nasdaq Nordic Member Rules
  • The total purchases of own shares will be limited to a total market value of up to EUR 5,000,000
  • The maximum number of shares that can be bought is 4,048,711 shares of EUR 0,01 each
  • Execution of the buyback will take place from March 19, 2020 to June 30, 2020 (subject to renewal of the authorization to the board of directors to acquire treasury shares on the upcoming annual general meeting)
  • Repurchases are to be made at a per-share price within the registered interval for the going rate at any given time, which denotes the interval between the highest bid and lowest selling price. Shares shall not be purchased at a price higher than the higher of the price of the last independent trade and the highest current independent purchase bid
  • Payment for the shares is to be made in cash

Contacts

Investor Relations:             Christina Bastius Thomsen +45 2363 8844
e-mail:                                 investor@bettercollective.com

This information is such information as Better Collective A/S is obliged to make public pursuant to the EU Market Abuse Regulation. 


About Better Collective
Better Collective’s vision is to empower iGamers through transparency and technology – this is what has made them the world’s leading developer of digital platforms for betting tips, bookmaker information and iGaming communities. Better Collective’s portfolio includes websites and products, among other bettingexpert.com, the trusted home of tips from expert tipsters and in depth betting theory. Better Collective is headquartered in Copenhagen, Denmark, and listed on Nasdaq Stockholm (BETCO). 

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Source(s) : Better Collective A/S

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