GAN.L Share Price (GAN)

How many shares got bought today before market?

How many shares floating?

Remember BOTB?

How many shares controlled by management.

This baby is gone in my opinion, they have enough shares to control the company, be bought out at that price £1.95 for anyone like me who still owns the share.

It will be take it or leave it, happened to BOTB couple of months back.

Hard to know what to make of this dog……

As is the case with any share repurchase scheme, GAN is under no obligation to buy back the full $5 million worth of stock. The company can also scrap the program at anytime.

Should the company buy back $5 million worth of its shares, that would represent 1.1 percent of its $427.51 million market capitalization. Based on the Nov. 30 closing price of $9.67, a $5 million buyback at that price would remove more than 517,000 of GAN’s 42.06 million shares outstanding from the market.

“We also recognize the value opportunity that has developed in our stock and want to be prepared to act opportunistically during periods when the share price becomes significantly dissociated from our future earnings potential,” said CEO Dermot Smurfit in the statement.

While GAN stock is getting drubbed alongside a variety of gaming peers this year, some analysts remain bullish on the name, with at least one noting it could be a takeover target.

GAN embarks on $5m share repurchase plan
By Gambling Insider
GAN Limited has announced that it will buy back up to $5m of ordinary shares after receiving authorisation from its Board of Directors.

The program will begin immediately and last until 31 May 2022, during which time the company will pay the prevailing market price at the time of acquisition for any shares.

GAN stressed that the authorisation does not oblige it to acquire any particular number of shares, and stated that the actual timing and manner of the buyback will be determined by management at its discretion and is subject to further discussions with the Board.

Several external factors will also play a role, including the market price of GAN’s common shares, general economic conditions, alternative investment opportunities and other business considerations in accordance with applicable securities laws and exchange rules.

The Nasdaq-listed company will use cash on hand and from its operations to fund the repurchase program.

“We continue to believe that the best use of our capital to drive long-term shareholder value is centred around our strategic growth initiatives such as investing in our technology, supporting client launches and building out our Super RGS content portfolio and omnichannel GAN Sports platform,” said GAN Chief Exec Dermot Smurfit.

“However, we also recognise the value opportunity that has developed in our stock and want to be prepared to act opportunistically during periods when the share price becomes significantly dissociated from our future earnings potential. Today’s announcement provides us with an effective tool to do exactly that, support our stockholders and drive long-term balanced returns.

You were right about the drop tricky, it really did dive down this time, sub $10 could be a good level for buying in.