GAN Announces Share Repurchase Plan
GAN Limited announced a share repurchase program allowing up to
- Authorization for up to $5 million in share repurchases indicates confidence in stock value.
- Repurchases may enhance shareholder value by reducing outstanding shares.
- None.
Authorization permits the Company to purchase up to
The shares will be repurchased with cash on hand and cash from operations. Any shares repurchased will be returned to treasury for cancellation. The price which the Company will pay for any such shares will be the prevailing market price at the time of acquisition, subject to certain limitations imposed by applicable securities laws. The actual timing, manner, and number of shares repurchased under the program will be determined by management at its discretion, together with further discussions with the board, and will depend on several factors, including the market price of GAN’s common shares, general market and economic conditions, alternative investment opportunities, and other business considerations in accordance with applicable securities laws and exchange rules. The authorization does not obligate GAN to acquire any particular number of shares and repurchases may be suspended or terminated at any time at GAN’s discretion.
"We continue to believe that the best use of our capital to drive long-term shareholder value is centered around our strategic growth initiatives such as investing in our technology, supporting client launches and building out our Super RGS content portfolio and omnichannel
About
GAN is a leading business-to-business supplier of internet gambling software-as-a-service solutions predominantly to the
Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about the amount, timing and effect of any repurchases of ordinary shares under the repurchase plan. All statements contained in this release that do not relate to matters of historical fact should be considered forward-looking statements, including statements regarding future business opportunities as well as statements that include the words "expect," "intend," "plan," "believe," "project," "forecast," "estimate," "may," "should," "anticipate" and similar statements of a future or forward-looking nature. These forward-looking statements are based on management's current expectations. These statements are neither promises nor guarantees but involve known and unknown risks, uncertainties, and other important factors that may cause actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. The Company undertakes no obligation to update or revise any forward-looking statements for any reason, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211130006071/en/
Investor Contacts:
GAN
Vice President, IR and Capital Markets
(610) 812-3519
rshore@GAN.com
(312) 445-2870
GAN@alpha-ir.com
Source:
FAQ
What is the purpose of GAN's $5 million share repurchase program?
When does GAN's share repurchase program expire?
How will GAN fund its share repurchase program?
What factors will influence the timing and amount of shares repurchased by GAN?