STOCKHOLM – (BUSINESS WIRE) – The board of directors of G5 Entertainment AB (publ) (the “Company” or “G5 Entertainment”) has decided to initiate the repurchase of common shares through authorization by the company’s annual general meeting on June 15, 2020 To give the board of directors greater opportunities to adjust the company’s capital structure from time to time to the capital requirements and thus to be able to contribute to increasing shareholder value. In addition, the authorization is intended to enable the Management Board to transfer shares in connection with company acquisitions by paying in own shares or to use repurchased shares to implement the company’s long-term incentive program, which is less likely to be diluted in future.
Ordinary shares can be bought back one or more times until the end of the company’s next ordinary general meeting. However, the number of own shares may at no time exceed 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 Class C shares and 278,200 common shares and has a maximum of 460,200 common shares for repurchase. The buyback will take place at a price per share within the price range of Nasdaq Stockholm at a certain point in time, ie the interval between the current highest purchase price and the lowest sale price, which is published regularly by Nasdaq Stockholm. The shares are paid in cash.
As of the date of this press release, the Company holds 172,200 Class C shares and 278,200 common shares, representing 4.95 percent of the total number of shares in the Company.
This information is information that G5 Entertainment AB must publish in accordance with the EU Market Abuse Regulation. The information was submitted for publication on June 16, 2021 at 8:30 a.m. (CET) by the contact person mentioned above.
About G5 Entertainment
G5 Entertainment AB (Publ) (G5) develops and publishes high quality free games for smartphones, tablets and PCs that are family-friendly, easy to learn, and aimed at the broadest audience of experienced and inexperienced gamers. The company sells its games via the Apple App Store, Google Play, Microsoft Store, Amazon Appstore etc. The company’s portfolio includes popular games such as Jewels of Rome®, Sherlock: Hidden Match-3 Cases®, Jewels of the Wild West®. Hidden City®, Mahjong Journey®, The Secret Society® and Wordplay: Train Your Brain ™.
Via its main company G5 Entertainment AB (Publ), the G5 Entertainment Group is listed under the trading symbol G5EN.ST in the main market mid-cap segment of Nasdaq Stockholm. For six years in a row, G5 Entertainment was named one of Deloitte’s 50 Fastest Growing Technology Companies in Sweden.
For more information on G5 Entertainment, see https://www.g5e.com/corporate