Truecaller's Board has decided to launch a program to repurchase own shares
STOCKHOLM, Sept. 23, 2022 /PRNewswire/ -- Earlier this year Truecaller's 2022 AGM authorized Truecaller's board to decide on one or more occasions during the time until the next AGM on the buyback of B shares in the company. The maximum B shares that may be repurchased corresponds to a maximum of five (5) percent of the total number of shares in the company on the day of the Annual general meeting. Truecaller's board has now decided to launch a buyback program of its own B shares. The purpose of the program is primarily to adapt Truecaller's capital structure to the company's capital needs.
Truecaller has commissioned SEB to manage the program. The program will be initiated at the earliest today the 23rd of September and will last until the 2023 Annual General Meeting at the latest.
Reporting of repurchased shares will be carried out in accordance with applicable rules.
The repurchase program is subject to the following terms:
At the date of the 2022 AGM the total number of Truecaller shares was 373,959,710 of which 46,783,800 were A shares and 327,175,910 were B shares.
The total number of shares in Truecaller is today 379,059,710 shares, of which 46,783,800 A shares and 327,175,910 B shares and 5,100,000 C-shares. All C shares have been repurchased by Truecaller to secure the company's commitments in share program 2022 (as part of the incentive program LTIP 2022).
As of today Truecaller does not hold any B shares in treasury.
For more information, please contact:
Andreas Frid, Head of IR & Communication
Truecaller (TRUE B) is the leading global platform for verifying contacts and blocking unwanted communication. We enable safe and relevant conversations between people and make it efficient for business to connect with consumers. Fraud and unwanted communication are endemic to digital economies, especially in emerging markets. We are on a mission to build trust in communication. Truecaller is an essential part of everyday communication for more than 320 million active users, with half a billion downloads since launch and around 38 billion unwanted calls identified and blocked in 2021. Headquartered in Stockholm, since 2009, we are a co-founder led, entrepreneurial company, with a highly experienced management team. Truecaller is listed on Nasdaq Stockholm since 8 October 2021. For more information, please visit corporate.truecaller.com
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SOURCE Truecaller AB