Tremor International Ltd - Israel-headquartered company offering an end-to-end technology advertising platform - Intends to file a motion with the Israeli court seeking approval to buy back a further USD20 million of its shares "from time to time". This is required by Israeli law, which requires court approval for share repurchase programmes based on IFRS net income thresholds, even though Tremor says it has "sufficient" cash reserves and cash flow to fund the programme. Says the buyback would be over a term beginning upon the date of a court approval of the motion and ending six months later. Expects the Israeli court to take approximately 45 to 60 days to reach a decision and will provide an update "if and when court approval is obtained".
Current stock price: 148.80 pence, up 6.3%
12-month change: down 56%
By Greg Rosenvinge, Alliance News reporter
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