Affiliate giant Catena Media has revealed it repurchased 1,973,000 of its ordinary shares between 1 March and 14 April, in line with a share buyback programme initiated during the third quarter of 2021.
Shares were repurchased for a price of SEK90.6m (£7.4m/€8.8m/$9.6m) and executed on Nasdaq Stockholm by Carnegie Investment Bank on behalf of Catena Media.
Following the repurchases and as of 14 April, Catena Media now holds 4,295,510, or 5.6%, of its own shares. The total number of issued shares in Catena stands at 76,315,268.
The share buyback programme launched last year in an effort to promote more efficient capital usage by returning excess capital to shareholders.
The programme entitles Catena to repurchase shares on one or more occasions prior to the 2022 annual general meeting. Catena may repurchase a maximum of 7,039,215 ordinary shares, while its total holding cannot exceed 10% of the total issued share capital.
No share repurchases will be made between 19 April and 18 May during the closed period preceding the publication of Catena’s Q1 interim report on 18 May.