Azerion to propose cancellation of shares held in treasury
Amsterdam, 28 February 2023 – Today, Azerion has announced its intention to cancel up to 58,690,961 ordinary shares held in treasury, in order to reduce the number of shares outstanding. A resolution for the cancellation of the treasury shares will be submitted at the next Annual General Meeting (AGM), which is scheduled for 15 June 2023.
Atilla Aytekin, co-CEO of Azerion, comments: “Since the listing Azerion has matured significantly in its operations and performance. The company’s success during a challenging macro environment supports our belief in the fundamental growth of our business. These developments allow us to use our cash flow to fund future growth and be less reliant on equity as a form of M&A currency going forward.”
The resolution to the AGM will propose that 3,000,000 million shares are left in treasury for the purpose of employee stock options and earn outs from previous acquisitions. Currently Azerion has a total of 61,690,961 shares held in treasury, from a total of 181,561,748 outstanding shares.
Once the treasury shares are cancelled, the proposed ordinary shares outstanding in Azerion N.V. can be summarised as followed (based on current number of shares held in treasury):
| Share summary table | |
| Ordinary Shares (excl. Treasury) | 119,870,787 |
| Ordinary Shares in Treasury | 3,000,000 |
| Total Ordinary Shares | 122,870,787 |
About Azerion
Azerion is a high-growth digital entertainment and media platform. As a content-driven, technology and data company, Azerion serves consumers, digital publishers, advertisers, and game creators globally. Azerion’s integrated platform provides technology solutions to automate the purchase and sale of digital advertising for media buyers and sellers, supported by in-market sales and campaign management teams. Through our technology, content creators, digital publishers and advertisers work with Azerion to reach the millions of people across the globe that play Azerion’s games and view its distributed entertainment content to increase engagement, loyalty, and drive e-commerce.
Founded in 2014 by two Dutch entrepreneurs, Azerion has experienced rapid expansion driven by organic growth and strategic acquisitions. Azerion is headquartered in Amsterdam, the Netherlands and is a publicly traded company listed on Euronext Amsterdam.
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The companies in which Azerion Group N.V. directly and indirectly owns investments are separate legal entities. In this announcement “Azerion”, “Azerion Group” and “Group” are sometimes used for convenience where references are made to Azerion Group N.V. and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to Azerion Group N.V. and its subsidiaries in general or to those who work for them.
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