LeoVegas acquires 428 718 shares in recent stock buyback

LeoVegas has acquired 428,718 shares in the latest stage of a repurchase plan initiated earlier this year

LeoVegas has acquired 428,718 shares in the in vogue(p) represent of a repurchase design initiated earliest this year.

Between 13 and 17 December, the Swedish manipulator undertook its most recent daily round of carry buybacks as piece of a deal repurchase programme proclaimed on 27 May.

The company’s Board of Directors authorised the move after being presumption the greenlight during LeoVegas’ one-year general meeting (AGM) on 11 May, but its authorisation came with several stipulations.

LeoVegas may gain up to €10m ($11.3m) worth of shares, or upwards to 10% of the summate number of shares in the company, before next year’s AGM.

Moreover, all repurchases make been and shall follow made inward hard cash at a price within the straddle of the highest purchase toll and lowest marketing damage on the Nasdaq capital of Sweden at any precondition time.

LeoVegas also reiterated that its repurchase programme is being conducted in accordance of rights with Nasdaq Stockholm’s Rule Book for Issuers.

When it proclaimed the plan, LeoVegas stated: “The Board of Directors of LeoVegas has decided to workout the authorisation to repurchase own shares granted to it past the company’s yearbook full general coming together on 11 May 2021.

“LeoVegas intends to repurchase shares for an amount upward to €10m. The divvy up repurchases testament live conducted on ace or to a greater extent occasions before the annual superior general get together 2022.”

The repurchases are intended to optimise the company’s capital letter anatomical structure and create shareholder note value by reducing the figure of shares outstanding.

As of 17 December, LeoVegas held 4 zillion of its possess shares, spell thither were more than 97 million outstanding shares inwards the company.