Notification of transaction by a closely associated person of a Director of Millicom (Tigo)

Rhea-AI Summary

Millicom (Tigo) announced that Atlas Luxco S.à r.l., a person closely associated with board member Jules Niel, acquired 40,089 Millicom Swedish Depository Receipts (SDRs) at an average price of SEK 280.4 per share on November 7, 2024. The acquisition was executed through an investment bank mandate to ensure compliance with insider trading regulations. Jules Niel, who holds no direct shares in Millicom, is part of the Niel family group that beneficially owns 40.23% of Millicom's share capital.

Positive

• Insider buying: Board member's associated entity increases stake, showing confidence in company
• Significant ownership: Niel family group maintains substantial 40.23% ownership stake

Negative

• None.

Notification of transaction by a closely associated person of a Director of Millicom (Tigo)

Luxembourg, November 13, 2024 – Millicom International Cellular S.A. ("Millicom") announces that, on November 7, 2024, Atlas Luxco S.à r.l. (”Atlas”) a person closely associated (”PCA”) with Jules Niel, a member of Millicom’s Board of Directors, acquired 40,089 Millicom Swedish Depository Receipts (SDRs) in the open market at an average price of SEK 280.4 per share (the “Acquisition”). The Acquisition by Atlas was made via a mandate given to an investment bank to purchase SDRs on behalf and for the account of the PCA, ensuring that individuals making investment decisions do not have access to material non-public information.

Mr. Jules Niel does not directly hold any Millicom shares, but he is a member of the Niel family group, which beneficially own 40.23% of Millicom’s share capital. Details of the transaction are recorded on the personal trading section of Millicom’s website.

For further information, please contact:

Press: Sofía Corral, Director Corporate Communications press@millicom.com

Investors: Michel Morin, VP Investor Relations investors@millicom.com

 

About Millicom

Millicom (NASDAQ U.S.: TIGO, Nasdaq Stockholm: TIGO_SDB) is a leading provider of fixed and mobile telecommunications services in Latin America. Through our TIGO® and Tigo Business® brands, we provide a wide range of digital services and products, including TIGO Money for mobile financial services, TIGO Sports for local entertainment, TIGO ONEtv for pay TV, high-speed data, voice, and business-to-business solutions such as cloud and security. As of September 30, 2024, Millicom, including its Honduras Joint Venture, employed approximately 15,000 people, and provided mobile and fiber-cable services through its digital highways to more than 46 million customers, with a fiber-cable footprint over 14 million homes passed. Founded in 1990, Millicom International Cellular S.A. is headquartered in Luxembourg.

FAQ

How many Millicom (TIGO) SDRs did Atlas Luxco acquire on November 7, 2024?

Atlas Luxco acquired 40,089 Millicom Swedish Depository Receipts (SDRs) at an average price of SEK 280.4 per share.

What percentage of Millicom (TIGO) shares does the Niel family group own?

The Niel family group beneficially owns 40.23% of Millicom's share capital.

How was the Atlas Luxco transaction of Millicom (TIGO) SDRs executed?

The acquisition was executed through a mandate given to an investment bank to ensure individuals making investment decisions did not have access to material non-public information.