Better Collective to offset costs with share buyback program
Better Collective, the affiliate marketing company, has announced that it will be covering its expenses from recent acquisitions by introducing a share buyback program.
The program, which will operate from December 9, 2021 to February 24, 2022, will not only assist the affiliate firm in fulfilling its expenditures, but will also serve as the driving force behind its potential expansion goals.
A total of 4,694,532 nominal shares costing €0.01 apiece will be available for purchase. The acquisition of sales will be set to a market value of €10.0m on Nasdaq Stockholm, the stock exchange, in line with the Nordic Main Market Rulebook for Share Issuers.
Better Collective’s statement went as follows:
“The program’s goal is to partially cover the business’s current liabilities associated with executed purchases, and cover/hedge future liabilities associated with constructed incentive programs.”
The major Nordic universal bank – Nordea, will be functioning as the program’s lead manager. Purchasing sales on Better Collective’s behalf will be done by Nordea as well as making trading autonomous decisions of and without involvement from the affiliate company.
Better Collective has made many recent transactions. One of them is the RotoGrinders Network, owning the remaining 40% for a total of €33.0 million. Better Collective has also bought Soccernews.nl and Voetbalwedden.net, both sports media companies. This was part of a strategy to strengthen its position in the Netherlands.