Amsterdam, February 28, 2023 – Azerion today announced its intention to retire up to 58,690,961 of its common shares to reduce the number of shares outstanding. A resolution on the cancellation of treasury shares will be presented at the next Annual General Meeting (AGM), which is scheduled for June 15, 2023.
Atilla AytekinCo-CEO of Azerion, commented: “Since listing, Azerion has matured significantly in terms of operations and performance. The company’s success in a challenging macro environment validates our belief in the fundamental growth of our company. These developments allow us to use our cash flow to fund future growth and be less dependent on equity as M&A currency going forward.”
The AGM resolution will propose that 3,000,000 million treasury shares be retained for employee stock option and earn-out purposes from previous acquisitions. Azerion currently holds a total of 61,690,961 treasury shares out of a total of 181,561,748 shares outstanding.
Once the treasury shares have been cancelled, the proposed outstanding common shares of Azerion NV can be summarized as follows (based on the current number of treasury shares):
| Share summary table | |
| Ordinary shares (excl. treasury) | 119.870.787 |
| Treasury Common Stock | 3,000,000 |
| total common shares | 122.870.787 |
About Azerion
Azerion is a high-growth digital entertainment and media platform. As a content-centric technology and data company, Azerion serves consumers, digital publishers, advertisers and game developers worldwide. Azerion’s integrated platform provides technology solutions to automate the buying and selling of digital advertising for media buyers and sellers, supported by in-market sales and campaign management teams. Through our technology, content creators, digital publishers and advertisers partner with Azerion to reach the millions of people around the world who play Azerion’s games and view its distributed entertainment content to…
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