Tremor board another $20m in share repurchases

Advertising technology company Tremor International has approved a $20m share repurchase programme, it announced on Tuesday, financed through its existing cash resources.

The AIM-traded firm said the new repurchase programme followed its $75m share repurchase, which started on 1 March and had around £0.43m remaining.

It said the programme would be independently managed by its AIM broker finnCap, which would make trading decisions independently and without the influence of the company.

The repurchase programme would start on 1 October, and continue until the earlier of either 1 April 2023, or until it was completed.

“Any ordinary shares acquired as a result of the repurchase programme will be reclassified as dormant shares under the Israeli Companies Law, and will be held in treasury,” the Tremor board said in its statement.

At 0945 BST, shares in Tremor International were down 1.42% at 320p.

Reporting by Josh White at Sharecast.com.