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Raketech terminates share buy-back programme

By November 20, 2019August 17th, 2020No Comments

The Board of Directors for Raketech Group Holding P.L.C. (“Raketech”) has decided to terminate the programme to repurchase its shares until further notice. A total of 487,000 shares, equivalent to 1.3 percent of the total number of shares and votes in the company, were repurchased as part of the buy-back programme that was announced on June 5, 2019.

The purpose of the buy-back programme was to decrease Raketech’s capital. The Board of Directors now assesses that the opportunities for organic and M&A-driven growth have strengthened, and that larger shareholder value can be created over time through focusing on the company’s ongoing global expansion strategy, rather than investing cash flow and financing in repurchasing shares.

Raketech will publish its interim report for the third quarter of 2019 on 21 November at 07:00 CET.

For more information, please contact: Andreas Kovacs, CFO, investor@raketech.com

This information is such that Raketech Group Holding P.L.C. is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 22.00 CET on 20 November 2019.

About Raketech Group

Raketech is a leading online affiliate and content marketing company, with expertise in delivering comparison services for sports and gaming, online guides, communities and social media products in primarily the Nordic region and the UK. Through some 20 flagship brands, Raketech guides sports and gaming enthusiasts to the best possible services, while also delivering high-quality traffic and leads to its partners. Raketech grows both organically and via acquisitions and operates its business in accordance with a clear framework for responsible affiliate marketing services. The company’s shares are listed in Nasdaq First North Premier Growth Market with ticker RAKE. Erik Penser Bank AB is the company’s Certified Adviser (certifiedadviser@penser.se / +46 8 463 83 00).  For more information, visit www.raketech.com.