Rovio Entertainment Corporation Stock Exchange Release September 23, 2022 at 9.30 a.m. EEST
Rovio Entertainment Corporation starts repurchasing own shares
The Board of Directors of Rovio Entertainment Corporation has determined to start out a repurchasing program of the Company’s own shares based mostly on the authorization given by the Annual General Meeting on 7 April 2022.
The goal of the share repurchase program is to develop the Company’s capital construction and/or to make use of the shares as consideration in potential acquisitions, as a part of the Company’s share-based incentive program or in any other case for additional switch, retention or cancellation.
The share repurchase shall begin on 26 September 2022 on the earliest and finish by the most recent on 31 December 2022. The most variety of shares to be acquired is 800,000 equivalent to 1.0% of the full variety of shares, and the utmost capital for use for the repurchase is EUR 6.0 million. The shares shall be acquired in public buying and selling on Nasdaq Helsinki Ltd. on the market worth prevailing on the time of buy. Own shares shall be repurchased with funds from the Company’s unrestricted shareholders’ fairness.
The Board of Directors of Rovio Entertainment Corporation is permitted by the Annual General Meeting to determine on the repurchase and/or on the acceptance as pledge of the corporate’s own shares. The variety of own shares to be repurchased and/or accepted as pledge shall not exceed 8,210,120 shares.
At the second, the full variety of shares in Rovio Entertainment Corporation is 82,963,825 and the Company holds a complete of seven,411,416 of its own shares.
ROVIO ENTERTAINMENT CORPORATION
Rene Lindell, CFO
Media cellphone: +358 40 4858985
Nasdaq Helsinki Ltd
Rovio Entertainment Corporation is a worldwide mobile-first video games firm that creates, develops and publishes cell video games, which have been downloaded over 5 billion occasions. Rovio is finest identified for the worldwide Angry Birds model, which began as a well-liked cell sport in 2009, and has since advanced from video games to varied leisure, animations and client merchandise in model licensing. Rovio has produced The Angry Birds Movie (2016), and its sequel, The Angry Birds Movie 2 was launched in 2019. The firm gives a number of cell video games and has seven video games studios – two in Espoo (Finland), and one in Stockholm (Sweden), Copenhagen (Denmark), Montreal and Toronto (Canada). Studios additionally embrace a subsidiary in Izmir (Turkey) known as Ruby Games, which was acquired in 2021. Most of the staff are based mostly in Finland the place Rovio is headquartered. The firm’s shares are listed on the primary listing of NASDAQ Helsinki inventory alternate with the buying and selling code ROVIO.