Truecaller B Shares Buyback: Key Details and Insights
Overview of Truecaller's Share Buyback Program
Truecaller AB has been actively engaging in a significant share buyback program, demonstrating its commitment to enhancing shareholder value. The buyback process, initiated by the board of directors, is designed to repurchase its own B shares. This strategy allows the company to manage its capital more effectively and returns value to its shareholders through the reduced number of outstanding shares.
Recent Share Transactions
During the week of September 16 to September 20, a total of 150,000 B shares were repurchased by Truecaller. These acquisitions represent about 0.04% of its outstanding capital and add to the total of 3.17 million B shares that have been acquired since the program began back in May. This continual effort highlights Truecaller’s strategy to optimize its capital structure and support its stock price.
Details of Recent Purchases
Here are the detailed transactions that occurred during week 38:
- On September 16, 2024, 30,000 shares were purchased at an average share price of 37.55 SEK, totaling a transaction value of 1,126,429 SEK.
- On September 17, the company again acquired 30,000 shares, but at a higher average price of 38.45 SEK, leading to a transaction value of 1,153,610 SEK.
- September 18 showed a similar purchase of 30,000 shares with a slight decrease in price to 38.09 SEK, totaling 1,142,740 SEK.
- On September 19, another 30,000 shares were bought at 39.22 SEK, summing up to 1,176,645 SEK.
- Finally, on September 20, 30,000 shares were acquired for 41.48 SEK, with a total transaction value of 1,244,415 SEK.
Overall, the aggregated volume for this week stood at 150,000 shares, with the average price being 38.96 SEK and a total transaction value reaching approximately 5,483,839 SEK.
Context of Buyback Program
The buyback program was officially announced on May 28, 2024 and is set to continue until the Annual General Meeting scheduled for 2025. This initiative is aligned with the guidelines of the Emittentregelverket, ensuring compliance with legal standards.
During the Annual General Meeting of 2024, Truecaller’s board received authorization to carry out buybacks until the next AGM. This authorization is crucial as it allows the company to repurchase shares without exceeding ten percent of the total outstanding shares as authorized on the date of the meeting.
Impact on Shareholding Structure
Following the recent buybacks, Truecaller’s total holding now includes 3,167,832 B shares and 6,100,000 C shares, which collectively represent 2.63% of the total outstanding capital. The total share count for Truecaller, including treasury shares, has reached 353,040,414, while the number of outstanding shares minus the owned ones is 343,772,582.
Company Vision and Future Outlook
Truecaller stands as a leader in contact verification and blocking unwanted communications, which is increasingly important in today’s digital landscape. With over 420 million active users and a mission to enhance the safety of communication, Truecaller aims to facilitate trustworthy conversations between individuals and businesses. Their focus on transparency and user security continues to drive the company’s growth and commitment to innovation.
Contact Information
For further inquiries, please reach out to:
Andreas Frid
Head of IR & Communication
+46 705 29 08 00
About Truecaller
Founded in 2009 and headquartered in Stockholm, Truecaller has established itself as a reliable platform for billions of users worldwide, tackling fraud and unwanted communication with advanced technology. Their mobile application has been downloaded over a billion times and blocked around 50 billion unwanted calls last year alone, showcasing their significant impact in the digital era.
Frequently Asked Questions
What is the purpose of Truecaller's share buyback program?
The buyback program aims to reduce the number of outstanding shares, thereby enhancing shareholder value and optimizing capital structure.
How many shares did Truecaller repurchase recently?
Truecaller repurchased a total of 150,000 B shares during the week of September 16 to September 20, 2024.
What percentage of outstanding capital does Truecaller currently hold?
After the recent repurchases, Truecaller holds approximately 2.63% of its outstanding capital.
Is Truecaller complying with regulatory requirements in its buyback program?
Yes, Truecaller’s buyback activities are conducted in accordance with the Emittentregelverket regulations.
Where can I find more information about Truecaller?
For more information about Truecaller, visit their official website or contact their Investor Relations department.
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