Commencement of New Share Buyback Programme

RNS Number : 1745C

Taptica International Ltd

14 June 2019

 

14 June 2019

Taptica International Ltd

("Taptica" or the "Company")

Commencement of New Share Buyback Programme

Taptica International Ltd (AIM: TAP), a global leader in advertising technologies for brand advertising and performance-based mobile marketing, announces that it has approved a further share buyback programme of ordinary shares of NIS0.01 in the capital of the Company ("Ordinary Shares") for an aggregate purchase price of up to US$10 million (the "Buyback Programme"). The Buyback Programme forms part of the Group's broader strategy to deliver shareholder value.

The Buyback Programme will be independently managed by finnCap Ltd, the Company's broker, which will make trading decisions independently and without the influence of the Company. The Buyback Programme is in accordance with the terms of the Company's authority to make market purchases of its own Ordinary Shares (the "Authority") and will be conducted within certain parameters.

The Buyback Programme will be effected in accordance with the Authority in that the maximum price paid per Ordinary Share is to be no more than 105 per cent. of the average middle market closing price of an Ordinary Share for the five business days preceding the date of purchase. The Buyback Programme will commence today and will continue until 31 August 2019.

Any Ordinary Shares acquired as a result of the Buyback Programme will be reclassified as dormant shares under the Israeli Companies Law (without any rights attached thereon) and will be held in treasury. Any Ordinary Shares acquired as a result of the Buyback Programme will be announced to the market without delay.

Due to the limited liquidity in the issued Ordinary Shares, any Buyback of Ordinary Shares pursuant to the Authority on any trading day may represent a significant proportion of the daily trading volume in the Ordinary Shares on AIM and may exceed 25 per cent. of the average daily trading volume, being the limit laid down in Article 5(1) of Regulation (EU) No 596/2014 and, accordingly, the Company will not benefit from the exemption contained in this Article.

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.The Company confirms that it currently has no other unpublished price sensitive information other than what has been disclosed above.

For further information please contact: 

Taptica International Ltd Ofer Druker, Chief Executive Officer Yaniv Carmi, Chief Financial Officer	Tel: [phone]
finnCap Ltd (Nominated Adviser) Corporate Finance - Jonny Franklin-Adams, James Thompson, Hannah Boros ECM - Tim Redfern, Richard Chambers	Tel: [phone]
Vigo Communications (Financial Public Relations) Jeremy Garcia Antonia Pollock Charlie Neish [e-mail]	Tel: [phone]

About Taptica

Taptica International Ltd is a global leader in advertising technologies, operating in more than 70 countries. It has three core divisions: Tremor Video DSP (brand advertising), Taptica (performance advertising) and a Media division.

Tremor Video DSP helps advertisers deliver impactful brand stories across all screens through the power of creative video intelligence-innovative video technology combined with advanced audience data and captivating creative. Tremor Video is one of the largest and most innovative video advertising companies in North America, with offerings in CTV, influencer marketing, and private marketplaces.

The Taptica performance business is an end-to-end mobile technology advertising platform that helps the world's top brands reach their most valuable users with the widest range of traffic sources available today. Its proprietary technology leverages big data to target quality media at scale. It works with more than 600 advertisers including Amazon, Alibaba, Bytedance, Netmarble, Stubhub and OpenTable.

Taptica International Ltd is headquartered in Israel and maintains offices throughout the US and Canada, Asia-Pacific, Europe, India, and Latin America, and is traded on the London Stock Exchange (AIM: TAP).

 

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