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 14, 2023. 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 470,587 ordinary shares and may repurchase a maximum of 227,798 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 470,587 own ordinary shares, corresponding to 7.38 percent of the total number of shares in the Company.
For additional information, please contact:
Stefan Wikstrand, CFO, +46 76 00 11 115
About G5 Entertainment
G5 Entertainment AB (Publ) (G5) develops and publishes high quality free-to-play games for smartphones, tablets and personal computers that are family friendly, easy to learn, and targeted at the widest audience of both experienced and novice players. The company distributes its games through the G5 Store, Apple App store, Google Play, Amazon Appstore and Microsoft Store. The company’s portfolio includes popular games like Jewels of Rome®, Sherlock: Hidden Match-3 Cases, Jewels of the Wild West®, Hidden City®, Mahjong Journey®, The Secret Society® and Wordplay: Search Word Puzzle™.
Through its head entity G5 Entertainment AB (Publ), G5 Entertainment Group is publicly listed on Nasdaq Stockholm’s main market mid cap segment under trade symbol G5EN.ST. For six years in a row, G5 Entertainment was ranked in Deloitte’s Top 50 Fastest Growing Tech Companies in Sweden.
More information about G5 Entertainment can be found at: https://corporate.g5e.com