At the meeting the Directors approved to seek the renewal of the current share buy-back authority at the forthcoming AGM on 25th April 2007.
This authority will be for the same terms and conditions as those already in existence.
The Board´s objective is to increase the amount of cash distributed to shareholders.
In addition to the significantly increased proposed dividend of 5.5 SEK, there will be an enhanced share buyback programme to achieve a maximum distribution to shareholders of up to a total of £20 million. This will be achieved due to the strong positive cash flow nature of the business and the current net cash position.
Also, the Board expects to announce new financial objectives in the Q1 2007 report, including an improved dividend policy to pay a dividend of up to 75% (currently 50%) of the Group´s net income after tax to the shareholders, provided other financial objectives are met and an appropriate capital structure is maintained. In addition, all banking covenants will need to be adhered to.
For more information:
Anders Ström, Chairman Unibet, telephone +44 870 145 2400
Unibet was founded in 1997 and is an online gambling company is listed on Stockholmsbörsen´s Nordic List. Unibet is one of the largest privately-owned gambling operators in the European market and provides services in 20 languages through www.unibet.com. Today, Unibet has more than 1,500,000 customers in over 100 countries. Unibet is a member of the EBA, European Betting Association and is certified by G4, Global Gaming Guidance Group.
More information about Unibet Group plc can be found on www.unibetgroupplc.com
This information was brought to you by Waymaker http://www.waymaker.net
The following files are available for download: