Truecaller's board has decided to resume share buybacks

STOCKHOLM, May 28, 2024 /PRNewswire/ -- The Board of Truecaller has resolved to utilize the mandate adopted by the Annual General Meeting on the 23rd of May 2024 to buy back B-shares. The purpose of the buybacks is to give the board of directors the opportunity to continuously adapt the company's capital structure and thereby contribute to increased shareholder value, to be able to exploit attractive acquisition opportunities by fully or partly financing future acquisitions of companies, with the company's own shares, and for financing and/or securing the delivery of series B shares in long-term incentive programs approved by the general meeting.

The program will be initiated at the earliest today the 28th of May and will last until the 2025 Annual General Meeting at the latest.

Reporting of repurchased shares will be carried out in accordance with applicable rules.

The repurchase program is subject to the following terms:

• The share repurchases shall be made on Nasdaq Stockholm in accordance with its Rulebook for Issuers of Shares (below the "Rulebook")
• The share repurchases shall commence no earlier than today the 28th of May 2024, and shall end no later than the 2025 Annual General Meeting
• The share repurchases are to be carried out on one or more occasions, at a price per share within the registered span of share prices on the stock exchange at the particular time, (i.e. the interval between the highest buying price and the lowest selling price) on Nasdaq Stockholm
• The share repurchases may only be made in accordance with the restrictions regarding volume for acquisitions of own shares stated in the Rulebook
• The total number of series B shares that may be repurchased may correspond to a maximum of 10 percent of the total number of all outstanding shares.
• The shares are to be paid for in cash

The total number of shares in Truecaller is today 381,187,529 shares, of which 46,783,800 A shares and 328,803,729 B shares and 5,600,000 C shares. All C shares have been repurchased by Truecaller to secure the company's commitments in incentive programs decided by the AGM.

As of today Truecaller holds 28,647,115 B shares and 5,600,000 C shares in treasury. All the B-shares that Truecaller holds today will be canceled  as decided by the Annual General Meeting on the 23rd of May 2024.

For more information, please contact:
Andreas Frid, Head of IR & Communication
+46 705 29 08 00
[email protected]

About Truecaller:

Truecaller (TRUE B) is the leading global platform for verifying contacts and blocking unwanted communication. We enable safe and relevant conversations between people and make it efficient for businesses to connect with consumers. Fraud and unwanted communication are endemic to digital economies. especially in emerging markets. We are on a mission to build trust in communication. Truecaller is an essential part of everyday communication for more than 383 million active users, with more than a billion downloads since launch and around 50 billion unwanted calls identified and blocked in 2023. Headquartered in Stockholm, since 2009, we are a co-founder led. entrepreneurial company. with a highly experienced management team. Truecaller is listed on Nasdaq Stockholm since 8 October 2021. For more information. please visit corporate.truecaller.com

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SOURCE Truecaller AB