Rovio Entertainment Corporation starts repurchasing own shares
Rovio Entertainment Corporation Stock Exchange Release March 11, 2020 at 10:00 a.m. EET
Rovio Entertainment Corporation starts repurchasing own shares
The Board of Directors of Rovio Entertainment Corporation has decided to start a repurchasing program of the Company's own shares based on the authorization given by the Annual General Meeting on 9 April 2019.
The purpose of the share repurchase program is to develop the Company’s capital structure and/or to use the shares as consideration in potential acquisitions, as part of the Company’s share-based incentive program or otherwise for further transfer, retention or cancellation.
The share repurchase shall start on 12 March 2020 at the earliest and end by the latest on 31 December 2020. The maximum number of shares to be acquired is 4,500,000 corresponding to 5.5% of the total number of shares, and the maximum capital to be used for the repurchase is EUR 27.0 million. The shares shall be acquired in public trading on Nasdaq Helsinki Ltd. at the market price prevailing at the time of purchase. Own shares shall be repurchased with funds from the Company's unrestricted shareholders' equity.
The Board of Directors of Rovio Entertainment Corporation is authorized by the Annual General Meeting on 9 April 2019 to decide on the repurchase and/or on the acceptance as pledge of the company's own shares. The number of own shares to be repurchased and/or accepted as pledge shall not exceed 7,946,474 shares.
At the moment, the total number of shares in Rovio Entertainment Corporation is 81,268,111 and the Company holds a total of 3,411,004 of its own shares.
ROVIO ENTERTAINMENT CORPORATION
More information:
Rene Lindell, CFO
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Distribution:
Nasdaq Helsinki Ltd.
Key media
About Rovio:
Rovio Entertainment Corporation is a global, games-first entertainment company that creates, develops and publishes mobile games, which have been downloaded 4.5 billion times so far. Rovio is best known for the global Angry Birds brand, which started as a popular mobile game in 2009, and has since evolved from games to various entertainment and consumer products in brand licensing. Today, Rovio offers multiple mobile games, animations and has produced The Angry Birds Movie, which opened number one in theatres in 50 countries. Its sequel, The Angry Birds Movie 2, released worldwide in August 2019. Rovio is headquartered in Finland and the company's shares are listed on the main list of Nasdaq Helsinki stock exchange with the trading code ROVIO.
