SBC News Voice of the Sports Betting Industry
Better Collective AS has launched a share buyback programme, capped at €10m, that will be initiated from 22 February to 24 April 2023.
The announcement follows the publication of the firm’s Q4 and 2022 results, in which the it achieved its full-year revenues of €270m combined with an EBITDA result of €85m.
The buyback programme has been activated to help cover future payments related to M&A activities and Long-Term-Incentive (LTI) developments.
Better Collective will aim to repurchase up to nominal 4,701,658 shares of EUR 0,01 each of the company’s share capital in the period until its annual general meeting in 2023.
Nordic investment bank, ABG Sundal Collier (ABGSC) will serve as the lead buyer of the programme, and will be allowed to purchase shares on behalf of Better Collective
“The purpose of the program is to partially cover the company’s debt obligations related to completed acquisitions and LTI programs,” Better Collective underlined as the principal objective.
Acquisition of shares will take place on Nasdaq Stockholm in compliance with the Nordic Main Market Rulebook for shareholders, with Better Collective guaranteeing payments in cash.
Providing a 2023 outlook, investors were notified that the company’s cost base would increase by €10m due to commitments to expand its presence in new LatAm markets and the necessity to build a new proprietary AdTech platform.
