18 November 2024
Boku, Inc.
("Boku" or the
"Company")
SHARE BUYBACK
PROGRAMME
Boku (AIM: BOKU), a global network
of local payment solutions, announces that its board of directors
("Board") has provided
authority for the Company to hold in Treasury up to 5 per cent. of
the common stock with par value of $0.0001 per share in the capital
of the Company ("Common
Stock") in issue at any one time.
The Company currently holds
2,463,434 Common Stock in Treasury, representing
approximately 0.81 per cent. of the total Common Stock in issue. The Board has now approved a share buyback programme
to repurchase Common Stock up to a maximum of
4,000,000 Common Stock (the "Buyback Programme").
The Board believes that the current
share price undervalues the Company. The Buyback Programme
represents a good investment opportunity and effective use of our
growing own-cash balances as well as a reaffirming our belief in
the Company's long term growth plan. Shares purchased will be held
in Treasury and may be used to satisfy future obligations from
warrant holders or the staff equity remuneration programme thus
minimising future dilution for shareholders.
The Company has instructed Investec
Bank plc, the Company's joint broker, to conduct the Buyback
Programme on its behalf. The Buyback Programme will be effected
within certain pre-set parameters, including that the maximum price paid per Common Stock shall
be no more than 105 per cent. of the trailing 5 day average
mid-market price, and in accordance with
the authority granted by the Company's Board (the "Authority").
The Buyback Programme will be
effective from 18 November 2024 and will expire on 30 April 2025,
or earlier, if either the maximum aggregate number of Common Stock
has been purchased or the maximum aggregate consideration has been
reached. At that point, the Board intends to assess whether or not
to commence a further buyback, within the Board authority to hold
up to 5% of the Common Stock in Treasury, based on the
circumstances at the time and will provide an update as
appropriate.
Due to the limited liquidity in the
issued Common Stock, a buy-back of Common Stock pursuant to the
Authority on any trading day may represent a significant proportion
of the daily trading volume in the Common Stock on AIM and may
exceed 25 per cent of the average daily trading volume.
Accordingly, the Company will not benefit from the exemption
contained in Article 5(1) of the UK version of the Market Abuse
Regulation (Regulation (EU) No 596/2014) as incorporated into UK
domestic law by virtue of the European Union (Withdrawal) Act
2018.
Enquiries:
Boku, Inc.
Stuart Neal, Chief Executive Officer
+44 (0)20 3934 6630
Robert Whittick, Chief Financial
Officer
Investec Bank plc (Nominated Adviser and Joint
Broker)
+44 (0)20
7597 5970
Nick Prowting / Kamalini Hull /
Patrick Robb
Peel
Hunt LLP (Joint Broker)
+44 (0)20 7418 8900
Neil Patel / Ben Cryer / Kate
Bannatyne
IFC
Advisory Limited (Financial PR &
IR)
+44 (0)20 3934 6630
Tim Metcalfe / Graham Herring /
Florence Chandler
Notes to Editors
Boku, Inc. (AIM: BOKU) is a leading
global provider of mobile payment solutions. Boku's mobile-first
payments network, including mobile wallets, direct carrier billing,
and account to account/real-time payments schemes, reaching over
7.5 billion mobile payment accounts through a single
integration.
Customers that trust Boku to
simplify sign-up, acquire new paying users and prevent fraud
include global leaders such as Amazon, Meta Platforms, Google,
Microsoft, Netflix, Sony, Spotify and Tencent.
Boku Inc. was incorporated in 2008
and is headquartered in London, UK, with offices in the US, India,
Brazil, China, Estonia, Germany, Indonesia, Ireland, Japan,
Singapore, Spain, Taiwan and Vietnam.
To learn more about Boku, Inc.,
please visit: https://www.boku.com