The program will launch today (9 December) and run through to 24 February 2022, with up to 4,694,532 nominal shares to be bought at a price of €0.01 each.
The purchase of shares will be limited to a market value of €10.0m, with the acquisition of shares to take place on Nasdaq Stockholm in compliance with the Nordic Main Market Rulebook for Issuers of shares.
Nordea will act as lead manager of the buyback program and purchase shares on behalf of Better Collective, making trading decisions independently of, and without influence by the affiliate.
“The purpose of the program is to partially cover the company’s debt obligations related to completed acquisitions, and to cover/hedge future obligations related to established incentive programs,” Better Collective said.
Better Collective has completed a series of acquisitions in recent months, including last month taking full control of US-based RotoGrinders Network, purchasing the remaining 40% stake in RotoGrinders for a total price of €33.0m.
In September this year, Better Collective also acquired Dutch online sports media brands Soccernews.nl and Voetbalwedden.net as part of an effort to build its presence in the Netherlands.