A114S0 Kambi Group

Kambi Group plc Summary of Resolutions EGM 2020

Kambi Group plc Summary of Resolutions EGM 2020

Kambi Group plc (Malta Registration Number C49768) of Level 3, Quantum House, Abate Rigord Street, Ta’ Xbiex XBX1120, Malta (the “Company”) held an Extraordinary General Meeting on the 3 July 2020, in Sweden (the “Meeting”).

_____________________________________________________________________________________

Three extraordinary resolutions (a, b and c respectively) were presented to the Meeting, all of which were unanimously approved by the members present at the Meeting:

  • Authority to issue options to be allotted with Ordinary B shares in the Company approved;

     
  • Authority to issue and allot shares for payment in kind approved;

     
  • Authority to acquire own shares approved.



By order of the Board

Joseph Ghio

Company Secretary



About Kambi

Kambi is a provider of premium sports betting services to licensed B2C gaming operators. Kambi Group plc is listed on First North Growth Market at Nasdaq Stockholm. Our services encompass a broad offering from front-end user interface through to odds compiling, customer intelligence and risk management, built on an in-house developed software platform. Kambi’s 20-plus customers include 888 Holdings, ATG, DraftKings, Kindred Group, LeoVegas, Penn National Gaming and Rush Street Interactive. Kambi employs more than 850 staff across offices in Malta (headquarters), Australia, Romania, the UK, Philippines, Sweden, Australia and the United States.

Kambi utilises a best of breed security approach and is ISO 27001 and eCOGRA certified. Kambi Group plc is listed on Nasdaq First North Growth Market under the symbol "KAMBI".

The Company's Certified Advisor is Redeye AB. Redeye AB, , +46 (0)8 121 576 90.

Attachment

EN
03/07/2020

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Kambi Group

Martin Arnell
  • Martin Arnell

Kambi (Buy, TP: SEK180.00) - Preparing for more action

We reiterate our BUY and SEK180 target price, and expect Q1 to show Kambi is on track to meet its 2024 revenue and EBIT guidance. The near-term outlook is positive in our opinion (key sports events like UEFA Euro 2024, and onboarding new key customers), and a new CEO should be announced soon. We have raised our 2024e EBIT by 3%, and expect more clarity on future potential buybacks (new framework to be put to the AGM).

Kambi Group Plc: 2 directors

Two Directors at Kambi Group Plc bought 15,000 shares at between 101.700SEK and 105.308SEK. The significance rating of the trade was 53/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over ...

Martin Arnell
  • Martin Arnell

Kambi (Buy, TP: SEK180.00) - Succession in the making

We have cut our 2024e adj. EPS by c30% reflecting Kambi’s cautious revenue guidance, partly explained by the less-attractive terms in the contract extension with Kindred. Consequently, we have cut our target price to SEK180 (235) but reiterate our BUY ahead of the CEO change, re-based consensus, a healthy customer pipeline, intact structural tailwind, and as we remain optimistic on earnings growth in the forecast period.

Martin Arnell
  • Martin Arnell

Kambi (Buy, TP: SEK235.00) - An eventful year ahead

We reiterate our BUY but have lowered our target price to SEK235 (250) after cutting our 2024 adj. EPS by 8%. We expect soft Q4 earnings, burdened by player-friendly results (sports margin) and a high drop through. However, the 2024 outlook remains positive, with key sport events and contributions from new key clients. The negatives are more than discounted, we believe.

Martin Arnell
  • Martin Arnell

Kambi - Initiation of coverage - The odds are improving

Kambi has carved out a leading position as a trusted B2B sportsbook provider in a structurally growing market. With multiple key markets set to regulate, rising online penetration and positive customer sign-up momentum, we believe Kambi is poised for a 2023–2025e EBIT CAGR of 28%. We initiate coverage with a BUY and SEK250 target price, while our bull-case revenue scenario for 2025 is c50% above consensus.

ResearchPool Subscriptions

Get the most out of your insights

Get in touch