Tremor International Ltd - California based advertising-technology company - has had its motion to repurchase USD20 million of ordinary shares approved by an Israeli court. Following the court's decision, the company's board of directors has now approved the share buyback. The price paid per share will not exceed 105% of the average middle market closing price. The repurchase will begin on Wednesday and continue until June 18 or until it has been completed. This follows two recently completed programmes in which the company repurchased approximately USD95.0 million of its shares, representing around 13% of shares outstanding. The company's directors say that it will consider launching additional future share repurchase programmes, should its shares continue to trade at what the company considers discounted valuation levels and if Tremor remains cash generative.
Current stock price: 190.00 pence
12-month change: down 31%.
By Hugh Cameron, Alliance News reporter
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