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Rovio Entertainment Corporation Stock Exchange Release September 23, 2022 at 9.30 a.m. EEST
Rovio Entertainment Corporation starts repurchasing own shares
The Board of Directors of Rovio Entertainment Corporation has decided to start a repurchasing program of the Company's own shares based on the authorization given by the Annual General Meeting on 7 April 2022.
The purpose of the share repurchase program is to develop the Company's capital structure and/or to use the shares as consideration in potential acquisitions, as part of the Company's share-based incentive program or otherwise for further transfer, retention or cancellation.
The share repurchase shall start on 26 September 2022 at the earliest and end by the latest on 31 December 2022. The maximum number of shares to be acquired is 800,000 corresponding to 1.0% of the total number of shares, and the maximum capital to be used for the repurchase is EUR 6.0 million. The shares shall be acquired in public trading on Nasdaq Helsinki Ltd. at the market price prevailing at the time of purchase. Own shares shall be repurchased with funds from the Company's unrestricted shareholders' equity.
The Board of Directors of Rovio Entertainment Corporation is authorized by the Annual General Meeting to decide on the repurchase and/or on the acceptance as pledge of the company's own shares. The number of own shares to be repurchased and/or accepted as pledge shall not exceed 8,210,120 shares.
At the moment, the total number of shares in Rovio Entertainment Corporation is 82,963,825 and the Company holds a total of 7,411,416 of its own shares.
ROVIO ENTERTAINMENT CORPORATION
Rene Lindell, CFO
Media phone: +358 40 4858985
Nasdaq Helsinki Ltd
Rovio Entertainment Corporation is a global mobile-first games company that creates, develops and publishes mobile games, which have been downloaded over 5 billion times. Rovio is best known for the global Angry Birds brand, which started as a popular mobile game in 2009, and has since evolved from games to various entertainment, animations and consumer products in brand licensing. Rovio has produced The Angry Birds Movie (2016), and its sequel, The Angry Birds Movie 2 was released in 2019. The company offers multiple mobile games and has seven games studios – two in Espoo (Finland), and one in Stockholm (Sweden), Copenhagen (Denmark), Montreal and Toronto (Canada). Studios also include a subsidiary in Izmir (Turkey) called Ruby Games, which was acquired in 2021. Most of the employees are based in Finland where Rovio is headquartered. The company's shares are listed on the main list of NASDAQ Helsinki stock exchange with the trading code ROVIO.
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