Kindred managed a buyback of 942,000 shares

Kindred managed a buyback of 942,000 shares

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Kindred managed a buyback of 942,000 shares

Kindred Group, an online gambling operator, managed to repurchase 942,000 shares during December 1-17 within its long-term buyback project.

The launch of the repurchase program occurred on July 23 in the current year by the Board of Director of the Kindred Group. Within its framework, the company made a buyback of 4,652,000 shares each costing 129.0 SEK.

According to the report carried out on Friday, currently Kindred possesses 7,486,839 shares.

Based on the buyback project, Kindred was permitted to buy 6,000,000 at its maximum with a price of SEK 600,000,000.

The buyback project was implemented based on Nasdaq Nordic Main Market Rulebook, Maltese Companies Act and EU Market Abuse Regulation as well.

Kindred experienced successful trading in the current year as it had recorded £298 million income, which shows an increase of 6% compared with last year’s record of £281.

The company has seen continuous development and success in Belgian, Danish and UK markets. It aims to recover its power in France after having some issues with shortfalls in the state’s wagering system.

At the same time, the company had faced some obstacles in the Netherlands as it had to forbid its gambling operations and wait for license till Q2 2022 under KOA Act regime.

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