Truecaller B Shares Buyback Program: Week 39 Overview
Truecaller B Shares Buyback Program Overview
Truecaller AB has been actively engaged in a significant share buyback program that recently saw a flurry of activity during week 39 of 2024. This initiative showcases the company’s commitment to enhancing shareholder value while maintaining a clear strategy for capital management.
Details of the Buyback Program
In the period from September 23 to September 27, 2024, Truecaller repurchased a total of 170,000 of its own B shares, which constitutes roughly 0.05% of the company’s outstanding capital. This move is part of a broader buyback strategy announced by the Board of Directors on May 28, 2024, as they seek to buy back shares until the upcoming Annual General Meeting scheduled for May 2025.
Understanding the Implications of Share Repurchase
The repurchase program, which began in late May, has resulted in the buyback of 3.34 million B shares to date, accounting for approximately 0.95% of the total outstanding stock. Such strategic buybacks can create a favorable perception in the market, potentially leading to price appreciation as the shares become scarcer. Additionally, the Board received authorization to further buy back shares, ensuring that the company’s holdings do not exceed ten percent of the overall shares outstanding.
Transaction Insights from Week 39
The weekly buyback revealed consistent activity with an accumulated total of 170,000 shares repurchased. The transactions for this week were characterized by a weighted average share price of SEK 39.22, accumulating a total transaction value of SEK 6,668,134.
Truecaller’s Share Ownership and Market Position
As of September 27, 2024, Truecaller holds a total of 3,337,832 B shares and 6,100,000 C shares, equating to about 2.67% of the total capital. The overall number of shares, including those owned by Truecaller, is now 353,040,414, while shares outstanding, excluding the company's holdings, amount to 343,602,582. This calculated management of share equity underpins Truecaller's proactive approach in engaging with its investors.
Communication and Shareholder Engagement
Communication regarding such vital movements plays a key role in maintaining transparency with stakeholders. And that’s why the contacts provided for inquiries are crucial. For further details on the buybacks, interested parties are encouraged to reach out to Truecaller’s Head of Investor Relations & Communication, Andreas Frid. With a dedicated line for investor communications, stakeholders can stay informed about ongoing developments and the strategic direction of the company.
About Truecaller
Truecaller (TRUE B) has established itself as a pioneer in the realm of contact verification and communication security. With over 420 million active users and a legacy of more than a billion downloads, the platform remains integral in combating unwanted communication in today’s digital landscape. In 2023 alone, Truecaller identified and blocked approximately 50 billion unwanted calls, underscoring its pivotal role in fostering trustworthy connections.
Frequently Asked Questions
What is the purpose of Truecaller’s buyback program?
The buyback program is aimed at enhancing shareholder value and managing capital more effectively during fluctuating market conditions.
How many shares did Truecaller repurchase in week 39?
In week 39 of 2024, Truecaller repurchased a total of 170,000 B shares.
What is the significance of share buybacks in corporate strategy?
Share buybacks can drive up share prices and offer a return on investment to shareholders by reducing the overall number of shares available.
Who can investors contact for more information?
Investors can reach out to Andreas Frid, the Head of Investor Relations & Communication, for inquiries regarding the buyback program.
How does Truecaller ensure communication safety?
Truecaller implements advanced technologies to prevent unwanted communications and protect user privacy in its operations and strategies.
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