LeoVegas to repurchase own shares for up to USD 11.87 M

The Board of Directors of LeoVegas has decided to exercise the authorisation to repurchase own shares granted to it by the company's Annual General Meeting (AGM) on 8 May 2020.

LeoVegas intends to repurchase shares for an amount up to EUR 10,000,000 (USD 11.87 M). The operation will be conducted on one or more occasions before the Annual General Meeting on 11 May 2021. LeoVegas said that the purpose is to optimise the company's capital structure and create shareholder value by reducing the number of shares outstanding. The repurchased shares may also be used as payment for potential future acquisitions.

The share repurchase program is being initiated in accordance with the authorisation granted by the shareholders at the AGM last year to repurchase up to 10% of the total number of shares in the company before the 2021 AGM. This entails that a maximum of 10,165,297 shares may be repurchased. LeoVegas today owns no treasury shares.

The repurchase program will be carried out under certain conditions. Repurchases shall be made at a price within the range of the highest purchase price and lowest selling price for the shares on Nasdaq Stockholm at any given time. Also, a maximum of 25%, with the exception of block trades, of the average daily trading volume in the shares on Nasdaq Stockholm may be repurchased on any given trading day.