Kambi continues share buyback program

Kambi Group plc is in a good place. As the year draws to its end, the group has confirmed that it has completed another share buyback tranche for 8,600 of its shares that it has purchased back in a bid to drive greater shareholder value and maintain a firmer hand at the rudder, Casino Guru News learned in an email press release.

The latest buyback came between December 19, 2023, and December 25, 2023, and is a continuation of the efforts that began on June 19, 2023, when, during an Extraordinary General Meeting, the group approved the plan and has since been busy executing it.

Kambi has carried out the purchases in compliance with all customary regulations, including the Maltese Companies Act. The company bought the shares at a price of SEK 164.13 and the group has been able to buy back 71,600 shares from December 5 through December 25, with the average price paid per share by Kambi at SEK 160.59.

There have been a total of four purchases carried out in success on December 19-22. The purchase was completed through the NASDAQ First North Growth Market in Stockholm and aided by Carnegie Investment Bank AD. With these latest purchases, Kambi now owns 729,592 of its own stock, with a total of 31,278,297 Kambi stock in circulation.

Kambi Group may continue to purchase additional stock to assume more control and bring greater value to its shareholders as it sees fit, but a natural cap of 3,127,830 shares must be observed as this is the highest number of stocks Kambi may own at any one time.

Kambi Group has been closing the year on a strong footing, not just because it managed to secure more of its own stock at a good price. The company similarly confirmed that it has brought in Anders Ström as Chair of the Board of Directors.

Outside of this, Kambi Group has continued to be a commercial success, teaming up with Svenska Spel Sport & Casino and 711.nl to deploy its powerful sportsbook platforms with both notable operators in Sweden and the Netherlands respectively.

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