STOCKHOLM--(BUSINESS WIRE)--The board of directors of G5 Entertainment AB (publ) (the “Company” or “G5 Entertainment”) has resolved to initiate repurchase of ordinary shares through authorization by the Annual General Meeting in the Company on 8 May 2019. The purpose with the authorization is to provide the Board with greater possibilities to adapt the capital structure of the Company to the capital requirement from time to time and thus be able to contribute to increased shareholder value. Further, the purpose of the authorization is to enable the Company to continuously adapt its capital requirements and enable the Board to transfer shares in connection with acquisitions of companies through payment in the form of the Company's own ordinary shares.
Repurchase of ordinary shares may be executed, on one or several occasions, until the end of the next annual general meeting in the Company on 8 June 2020. However, the holding of own shares may not at any time correspond to more than ten (10) percent of the total number of shares in the Company. Since, the Company already holds 260,000 own class C shares, the Company may repurchase a maximum of 668,135 ordinary shares. Repurchase shall be made at a price per share within the price range of Nasdaq Stockholm at any given time, which means the interval between the current highest purchase price and the lowest selling price published on a regular basis by Nasdaq Stockholm. Payment for the shares shall be paid in cash.
G5 Entertainment has instructed ABG Sundal Collier AB to repurchase ordinary shares on behalf of the Company.
At the date of announcement of this press release, the Company holds 260,000 own class C shares and 0 own ordinary shares, corresponding to 2.8 percent of the total number of shares in the Company.
This information is information that G5 Entertainment AB is obliged to make public under the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:30(CET) on March 27, 2020.
About G5 Entertainment
G5 Entertainment AB (publ) develops and publishes high quality free-to-play games for both smartphones and tablets that are family-friendly, easy to learn, and targeted at the widest audience of both experienced and novice players. The group distributes their games through the Apple, Google, Amazon, and Windows application stores. The company’s portfolio includes popular games like Hidden City®, Jewels of Rome®, Mahjong Journey®, Homicide Squad®, The Secret Society® and Wordplay: Exercise your brain.
Through its head entity G5 Entertainment AB (Publ), the G5 Entertainment Group is publicly listed on Nasdaq Stockholm main market mid cap under trade symbol G5EN.ST. G5 Entertainment has been ranked in Deloitte’s Top 500 Fastest Growing Tech Companies in Europe, the Middle East and Africa for 6 years in a row.
More information about G5 Entertainment can be found at http://www.g5e.com/corporate
Stefan Wikstrand, CFO, +46 76 00 11 11 5