5 Nov 2020 07:00
5 November 2020
Tremor International Ltd
("Tremor" or the "Company")
Dividend Distribution and Share Buyback
Tremor International Ltd. (AIM: TRMR), a global leader in advertising technologies, announces that it filed a motion with the Israeli court on 4 November 2020 seeking approval which will authorise the Company to distribute a dividend and to repurchase up to a further $20 million of its Ordinary Shares, should the Company elect to do so.
If and when obtained, the Israeli court approval provides Tremor with the right to repurchase its shares from time to time over a term commencing upon the dates of the court's approval of the motion and ending six months thereafter, but does not require the Company to acquire any or a specific number of shares.
The Company expects the Israeli court to take approximately 45-60 days to reach a decision and will provide an update if and when court approval is obtained and if the board elects to commence a share repurchase programme or dividend distribution of any quantum.
Christopher Stibbs, Non-executive Chairman of Tremor, commented:
"The board continuously evaluates the best use of the Company's capital, ensuring a prudent approach whilst endeavouring to maximise shareholder value. Our share buyback programme is an important element of this, which is why the board is seeking to ensure it has the flexibility to continue the programme if and when it decides to do so."
For further information please contact:
Tremor International LtdOfer Druker, Chief Executive OfficerSagi Niri, Chief Financial Officer | Via Vigo Communications |
finnCap Ltd (Nomad and Joint Broker)Jonny Franklin-Adams, James Thompson (Corporate Finance)Tim Redfern, Dicky Chambers (ECM) | Tel: +44 20 7220 0500 |
Stifel Nicolaus Europe Limited (Joint Broker) Fred WalshAlain DobkinNick AdamsRichard Short | Tel: +44 20 7710 7600 |
Vigo CommunicationsJeremy GarciaAntonia PollockCharlie Neish | Tel: +44 20 7390 0230 |
About Tremor International
Tremor International Ltd is a global leader in advertising technologies, it has three core capabilities: Video, Data and CTV, and our unique approach is centred on offering a full stack end-to-end solution which provides the Company with a major advantage in the marketplace.
Tremor Video helps advertisers deliver impactful brand stories across all screens through the power of innovative video technology combined with advanced audience data and captivating creative content. Tremor Video is one of the largest and most innovative video advertising companies in North America and globally, with offerings in CTV, in-stream, out-stream and in-app.
The media side of Tremor, Unruly, drives real business outcomes in multiscreen advertising. Its highly ranked programmatic platform efficiently and effectively delivers performance, quality, and actionable data to demand and supply-focused clients and partners. Tremor has a meaningful number of direct integrations with publishers, unique demand relationships with the world's biggest advertisers and privileged access to News Corp inventory. Unruly works with 95% of the AdAge 100 and 82% of video views are delivered across Comscore 1,000 sites.
Tremor International Ltd is headquartered in Israel and maintains offices throughout the US and Canada, Europe, Asia-Pacific and Australia and is traded on the London Stock Exchange (AIM: TRMR).