Truecaller's Share Buyback Program Overview
Truecaller AB has been actively involved in a noteworthy share buyback program, which illustrates its dedication to increasing shareholder value. This buyback initiative, initiated by the board of directors, focuses on repurchasing its own B shares. By doing so, the company can handle its capital more effectively while providing value to shareholders through a decreased number of outstanding shares.
Recent Transactions of Shares
From September 16 to September 20, the company repurchased a total of 150,000 B shares. These transactions account for roughly 0.04% of its outstanding capital and contribute to the accumulated total of 3.17 million B shares acquired since the buyback program began in May. This ongoing endeavor highlights Truecaller’s approach to refining its capital structure and bolstering its stock price.
Details of Recent Share Purchases
Here’s a breakdown of the transactions that took place during week 38:
- On September 16, 2024, Truecaller bought 30,000 shares at an average price of 37.55 SEK, amounting to a total transaction value of 1,126,429 SEK.
- On September 17, the company again purchased 30,000 shares, but the average price increased to 38.45 SEK, leading to a transaction value of 1,153,610 SEK.
- September 18 saw yet another purchase of 30,000 shares, with a slight dip in price to 38.09 SEK, totaling 1,142,740 SEK.
- On September 19, 30,000 shares were bought for 39.22 SEK, resulting in a total of 1,176,645 SEK.
- Lastly, on September 20, the company acquired 30,000 shares at a price of 41.48 SEK, yielding a total transaction value of 1,244,415 SEK.
In total, this week's share volume reached 150,000 shares, with an average price of 38.96 SEK and an overall transaction value of about 5,483,839 SEK.
Buyback Program Context
The buyback program was officially announced on May 28, 2024, and is set to continue until the Annual General Meeting (AGM) planned for 2025. This initiative adheres to the guidelines of the Emittentregelverket, ensuring compliance with necessary legal standards.
During the 2024 AGM, Truecaller’s board received the authority to buy back shares until the next AGM. This approval is significant as it allows the company to repurchase shares without surpassing ten percent of the total outstanding shares as authorized on that meeting date.
Effects on Shareholding Structure
Following these recent buybacks, Truecaller now holds a total of 3,167,832 B shares and 6,100,000 C shares, which together represent about 2.63% of the total outstanding capital. The overall share count for Truecaller, inclusive of treasury shares, has reached 353,040,414, while shares outstanding, not counting those owned, stand at 343,772,582.
Company Vision and Future Prospects
Truecaller is a leader in contact verification and in preventing unwanted communications, a vital service in our increasingly digital world. With over 420 million active users, Truecaller is committed to improving communication safety, fostering trustworthy interactions between individuals and businesses. Their emphasis on transparency and user security continues to fuel the company’s growth and dedication to innovation.
Contact Information
If you have any questions, please reach out to:
Andreas Frid
Head of IR & Communication
+46 705 29 08 00
About Truecaller
Founded in 2009 and based in Stockholm, Truecaller has positioned itself as a trusted platform for billions of users globally, combatting fraud and unwanted communication through advanced technology. Their mobile app has been downloaded over a billion times and successfully blocked around 50 billion unwanted calls just last year, highlighting their significant role in the digital age.
Frequently Asked Questions
What is the goal of Truecaller's share buyback program?
The primary goal of the buyback program is to reduce the number of outstanding shares, which enhances shareholder value and optimizes the company’s capital structure.
How many shares did Truecaller repurchase recently?
In the week of September 16 to September 20, 2024, Truecaller repurchased a total of 150,000 B shares.
What percentage of outstanding capital does Truecaller currently hold?
Following the latest repurchases, Truecaller holds about 2.63% of its outstanding capital.
Is Truecaller compliant with regulatory requirements in its buyback program?
Yes, Truecaller’s buyback activities are conducted in accordance with regulations set forth by the Emittentregelverket.
Where can I find more information about Truecaller?
You can find more information about Truecaller by visiting their official website or by reaching out to their Investor Relations department.
