Azerion to propose cancellation of shares held in treasury
28 Februar 2023 - 7:00AM
Azerion to propose cancellation of shares held in treasury
Amsterdam, 28 February 2023 –
Today, Azerion has announced its intention to cancel up to
58,690,961 ordinary shares held in treasury, in order to reduce the
number of shares outstanding. A resolution for the cancellation of
the treasury shares will be submitted at the next Annual General
Meeting (AGM), which is scheduled for 15 June 2023.
Atilla Aytekin, co-CEO of Azerion,
comments: “Since the listing Azerion has matured significantly in
its operations and performance. The company’s success during a
challenging macro environment supports our belief in the
fundamental growth of our business. These developments allow us to
use our cash flow to fund future growth and be less reliant on
equity as a form of M&A currency going forward.”
The resolution to the AGM will propose that 3,000,000 million
shares are left in treasury for the purpose of employee stock
options and earn outs from previous acquisitions. Currently Azerion
has a total of 61,690,961 shares held in treasury, from a total of
181,561,748 outstanding shares.
Once the treasury shares are cancelled, the proposed ordinary
shares outstanding in Azerion N.V. can be summarised as followed
(based on current number of shares held in treasury):
Share summary table |
|
Ordinary Shares (excl. Treasury) |
119,870,787 |
Ordinary Shares in Treasury |
3,000,000 |
Total Ordinary Shares |
122,870,787 |
About Azerion
Azerion is a high-growth digital entertainment and media
platform. As a content-driven, technology and data company, Azerion
serves consumers, digital publishers, advertisers, and game
creators globally. Azerion’s integrated platform provides
technology solutions to automate the purchase and sale of digital
advertising for media buyers and sellers, supported by in-market
sales and campaign management teams. Through our technology,
content creators, digital publishers and advertisers work with
Azerion to reach the millions of people across the globe that play
Azerion’s games and view its distributed entertainment content to
increase engagement, loyalty, and drive e-commerce.
Founded in 2014 by two Dutch entrepreneurs, Azerion has
experienced rapid expansion driven by organic growth and strategic
acquisitions. Azerion is headquartered in Amsterdam, the
Netherlands and is a publicly traded company listed on Euronext
Amsterdam.
For more information visit: www.azerion.com
ContactInvestor Relationsir@azerion.com
Mediapress@azerion.com
DISCLAIMERThe companies in which Azerion Group
N.V. directly and indirectly owns investments are separate legal
entities. In this announcement “Azerion”, “Azerion Group” and
“Group” are sometimes used for convenience where references are
made to Azerion Group N.V. and its subsidiaries in general.
Likewise, the words “we”, “us” and “our” are also used to refer to
Azerion Group N.V. and its subsidiaries in general or to those who
work for them.
This press release is for information purposes only. The
information contained in this press release does not purport to be
full or complete and, in particular, is not intended to form the
basis of any investment decision. No reliance may be placed by any
person for any purpose on the information contained in this press
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of Azerion to differ materially from future results expressed or
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statements reflect Azerion's current views and assumptions based on
information currently available to Azerion's management.
Forward-looking statements speak only as of the date they are made,
and Azerion does not assume any obligation to update such
statements, except as required by law. No assurances can be given
that the forward-looking statements will be realised. No
representation or warranty is made that any of these
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result will be achieved. Accordingly, no undue reliance should be
placed on any forward-looking statements.
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