Catena Media to continue share buyback programme
Catena Media plc has resolved to undertake a new round of share buybacks as part of an ongoing programme authorised by an extraordinary general meeting of shareholders on 14 July 2021 (the “EGM”). The company’s board of directors sees share buybacks as a way to enhance flexibility in distributing capital to shareholders and to promote more efficient capital usage.
Purchases of own shares will take place between 1 March and 18 April, the start date for the closed period prior to publication of Catena Media’s first-quarter results for 2022. Transactions will be exclusively on Nasdaq Stockholm in accordance with Nasdaq Stockholm’s Rulebook for Issuers and the authorisation granted at the EGM.
The company was authorised by the EGM to exercise its share buyback mandate on one or more occasions until the 2022 annual general meeting or 18 months from the date of the EGM, whichever is earlier.
Shares may be repurchased to the extent that the company's holdings of its own shares do not exceed 10 percent of the total issued share capital. In no event may the company repurchase (under share buy-back programme authorised by the EGM) more than 7,039,215 shares of its own shares.
Shares may also only be repurchased on any date at a price within the price interval recorded on Nasdaq Stockholm, meaning the interval between the highest buying price and the lowest selling price. However, the price at which shares may be repurchased may not exceed the lowest selling price, and may not be lower than the highest buying price, both as quoted on Nasdaq Stockholm at the time of the relevant repurchase.
As of the date of this press release, the company holds 2,322,510, or 3 percent, of its own ordinary shares, and the number of outstanding shares in the company is 76,180,121.
The share buyback programme operates in compliance with the Maltese Companies Act, EU Market Abuse Regulation (EU No. 596/2014) (“MAR”) and the applicable rules of Nasdaq’s Nordic Main Market Rulebook for Issuers of Shares.
Contact details for further information:
Peter Messner, Group CFO
Phone: +46 768 95 26 93, E-mail: peter.messner@catenamedia.com
Investor Relations
E-mail: ir@catenamedia.com
The information was submitted for publication, through the agency of the contact persons set out above at 14:00 CET on 1 March 2022.
About Catena Media
Catena Media has a leading position within online lead generation. The company has about 450 employees in the US, Australia, Japan, Serbia, the UK, Sweden, Italy and Malta (HQ). The company is listed on Nasdaq Stockholm. Further information is available at www.catenamedia.com.