Truecaller Board Resumes Share Buyback Initiative
The Board of Truecaller has made a significant decision to leverage the authority granted during the Annual General Meeting. This decision revolves around the buyback of B-shares, a strategic move that aims to strengthen the company’s capital structure. By conducting these buybacks, the board aspires to augment shareholder value and gain the ability to finance future acquisitions through its own shares.
Understanding the Buyback Purpose
Through this share repurchase program, Truecaller seeks to establish a more agile capital structure. The buybacks are intended to enable the company to capitalize on attractive acquisition opportunities in the marketplace. This financial strategy not only positions Truecaller for potential growth but also aligns with plans approved by shareholders regarding long-term incentive programs.
Timeline for the Buyback Operations
The share buyback program is set to commence as early as today and is expected to continue until the 2026 Annual General Meeting. This timeline allows ample room for the company to strategically manage its repurchases and adapt based on market conditions.
Key Terms and Conditions
The operations of this buyback program will adhere to specific conditions aimed at ensuring regulatory compliance and operational efficiency. Notably, share repurchases will take place on Nasdaq Stockholm, in line with its regulations. The board outlines several critical parameters:
- Purchases will occur within the framework set by Nasdaq for share issuers.
- The program will not initiate before the stipulated date nor extend beyond the 2026 Annual General Meeting.
- Transactions will occur at prices that align with the stock’s current market value.
- The total volume of B-shares purchased could reach a maximum of 10 percent of all outstanding shares.
- Payments for these shares will be conducted in cash, ensuring transparency and liquidity.
Currently, the total number of shares for Truecaller stands at 353,079,080, incorporating 46,783,800 A shares and 301,277,494 B shares, in addition to 5,017,786 C shares. Significantly, Truecaller has already secured all C shares to fulfill its obligations in the approved incentive programs.
Current Treasury Share Holdings
At present, Truecaller retains 3,945,332 B shares and the full complement of 5,017,786 C shares in its treasury. This acquisition strategy solidifies Truecaller’s standing and available resources for future endeavors.
Contact Information
For further clarity or inquiries regarding this initiative, stakeholders can reach out to:
Andreas Frid, Head of IR & Communication
+46 705 29 08 00
About Truecaller
Truecaller (TRUE B) stands out as a pioneering global platform committed to verifying contacts and filtering out unwanted communications. The company is dedicated to fostering secure and constructive conversations, making it easier for businesses to connect with consumers. With a mission to counteract fraud and ensure communication integrity, Truecaller reaches over 450 million active users globally. Since its listing on Nasdaq Stockholm, Truecaller has made significant strides in the tech sector, solidifying its role as an essential communication tool.
Frequently Asked Questions
What is the primary goal of Truecaller’s share buyback program?
The main aim is to strengthen the company's capital structure, enhance shareholder value, and facilitate future acquisitions.
When will Truecaller start its share buyback program?
The buyback program is set to commence immediately and continue until the 2026 Annual General Meeting.
How many shares can Truecaller repurchase?
The company can repurchase up to 10 percent of all outstanding shares.
What are the payment terms for the buyback?
All share purchases will be funded in cash to ensure liquidity and compliance.
How does Truecaller aim to build trust in communication?
Truecaller’s mission includes curbing fraud and ensuring secure interactions among users by verifying contacts and blocking unwanted communications.
