Buy-back of shares in MTG during week 32, 2022 – repurchase program completed
During week 32 (only 8 August 2022) Modern Times Group MTG AB (publ) (LEI code 549300E8NDODRSX29339) (“MTG”) has repurchased, in total, 11,459 own class B shares (ISIN code SE0018012494) under the share repurchase program initiated by the Board of Directors as part of the commitment to return money to shareholders.
The share repurchase program was completed on 8 August 2022 and a total of 2,155,553 class B shares for a total amount of approximately SEK 200 million have been repurchased under the program. With the closing of this program, MTG has now fulfilled its commitment to return at least 40% of the net proceeds from the divestment of ESL Gaming to the group’s shareholders.
The share buy-backs form a part of the share repurchase program of a maximum of 4,018,414 shares for a maximum amount of SEK 200 million, which MTG announced on 17 June 2022. The share repurchase program, which ran during the period 20 June 2022 – 8 August 2022, was being carried out in accordance with the Market Abuse Regulation (EU) No 596/2014 (“MAR”) and the Commission Delegated Regulation (EU) No 2016/1052 (the “Safe Harbour Regulation”).
The objectives of the share buy-backs were to deliver on the commitment to return money to shareholders and the intention is to reduce MTG’s share capital through subsequent share cancellations.
Class B shares in MTG have been repurchased (in SEK) as follows:
| Date | Aggregated daily volume (number of shares) | Weighted average share price per day (SEK) | Total daily transaction value (SEK) |
| 8 August 2022 | 11,459 | 103.5194 | 1,186,228.80 |
All acquisitions have been carried out on Nasdaq Stockholm by Nordea Bank Abp on behalf of MTG. Following the above acquisitions, MTG’s holding of own shares as of 8 August 2022 amounted to 3,514,301 class B shares and 6,324,343 class C shares. The total number of shares in MTG as of 8 August amounted to 135,089,808.
A full breakdown of the transactions pursuant to article 5.3 of MAR and article 2.3 of the Safe Harbour Regulation is attached to this announcement.
For more information:
Anton Gourman, VP Communications and IR
Direct: +46 73 661 8488, anton.gourman@mtg.com
Follow us: mtg.com / Twitter / LinkedIn
About MTG
MTG (Modern Times Group MTG AB (publ.)) (www.mtg.com) is an international mobile gaming group that owns and operates gaming studios with popular global IPs across a wide range of casual and mid-core genres. The group is focused on accelerating portfolio company growth and supporting founders and entrepreneurs. MTG is an active driver of gaming industry consolidation and a strategic acquirer of gaming companies around the world. We are born in Sweden but have an international culture and global footprint. Our shares are listed on Nasdaq Stockholm (‘MTGA’ and ‘MTGB’).