Catena Media acquires over 2 million shares in stock buyback

Catena Media has ended its four-month stock buyback program with more than two million shares for a total consideration of SEK 132

Catena Media has ended its four-month gunstock buyback computer program with more than two million shares for a sum up thoughtfulness of SEK 132.5m ($14.5m).

Between 17 November and 3 December, the Nasdaq-listed troupe undertook its secondment buyback round, repurchasing 817,700 ordinary shares.

This followed an initial round off that took put between 13 September and 15 October, inward which Catena acquired 1,504,810 shares, bringing its add up to 2,322,510 at a volume-weighted average damage of SEK 57.06.

This plan was first sanctioned by shareholders on 14 July. Under its terms, Catena is authorised to repurchase a upper limit of 7,039,215 ordinary shares, or no to a greater extent than 10% of its issued divvy up capital.

This figure currently stands at 75,570,137, though it will step-up to 76,180,121 when young shares are issued as a outcome of the warrant drill stop that followed the publishing of Catena’s Q3 meanwhile report.

As a result, it holds 3.1% of the amount shares, gift the companion considerable elbow room for further repurchases.

In its announcement, Catena stressed that the divvy up buyback programme operates inward compliance with the Maltese Companies Act, EU Market Abuse Regulation and the applicable rules of Nasdaq’s Nordic Main Market Rulebook for Issuers of Shares.

Catena also stated that all divvy up repurchases make been executed on Nasdaq capital of Sweden past Dale Carnegie Investment Bank on its behalf.

As of 12:00 pm CET on 6 December, Catena’s portion out cost stood at SEK 47.90, the lowest it has been since the society began its foremost circular of inventory buybacks on 13 September.

The part repurchase computer programme began inwards the 3rd quarter, which saw Catena’s operating revenue growth by 33%.