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Truecaller Boosts Market Confidence with Aggressive B Shares Buyback


Robert Tavares

March 4, 2024 - 08:43 am


Truecaller Amplifies Shareholder Value: A Strategic Repurchase of B Shares

STOCKHOLM, March 4, 2024 – On the financial horizon, a significant movement has been observed within the corporate arena of Truecaller AB (publ), identified by the legal entity identifier 549300TEYF1FA5G5GK26. The company has made a notable decision, embarking on a share buyback endeavor, successfully repurchasing a considerable 458,868 of its own B shares. The shares are recognized under the International Securities Identification Number (ISIN): SE0016787071. This substantial acquisition took place over a concise period of days, specifically from February 26, 2024, to March 1, 2024, following the meticulous strategy laid out by the board of directors.

Share Repurchase Program: The Blueprint for Enhanced Capital Efficiency

Echoing a public announcement made on June 7, 2023, Truecaller's share buyback program has been in strategic execution, running its course in accordance with the predefined schedule. Designed to culminate with the 2024 Annual General Meeting anticipated to occur in May, this program aligns with the regulatory framework known as “Emittentregelverket,” thereby ensuring compliance and governance in its operations.

Authorization and Limits of Truecaller's Buyback Scheme

The mandate precipitating this buyback was formulated at Truecaller’s Annual General Meeting in 2023. It granted the Board the authority to repurchase B shares until the subsequent Annual General Meeting in 2024. Specifically, the reauthorization allowed the buybacks to be conducted so long as Truecaller's total ownership did not surpass a cap of ten percent of the company's outstanding shares as of the date of the annual gathering.

The Details: Truecaller's Weekly Share Repurchase Breakdown

The company's commitment to acquiring its own shares is reflected in the detailed breakdown of daily purchases. With utmost transparency, Truecaller has reported the specific data from each day of trading, citing both volume and value with precision. On February 26, 2024, a total of 48,868 shares were bought back at a weighted average price per share of 28.29 SEK, totaling a transaction value of 1,382,310 SEK. The purchasing intensity amplified over the days, with the daily aggregated volume reaching a peak of 150,000 shares on March 1, 2024, and the transaction value skyrocketing to a staggering 4,209,435 SEK.

Continuing to encapsulate the extensive scale of the program, the accumulated transactions by the end of week 9 in 2024 reveal a grand total of 458,868 shares transacted. Over this period, the weighted average share price was moderately higher, reaching 28.39 SEK, reflecting a cumulative transaction value of 13,029,183 SEK. Overall, the program has seen a mass repurchasing of 12,812,292 shares at an average price of 32.38 SEK per share, leading to an overwhelming total transaction value of 414,816,456 SEK since initiation.

Current Holdings and Future Landscape

With the buyback transactions concluded most recently, Truecaller proudly holds a total of 26,094,071 B shares and 5,600,000 C-shares as the curtain drops on March 1, 2024. This marks an impressive 8.31% of their outstanding capital. Taking into account these self-owned shares, Truecaller’s total share capital comes to 381,187,529. Subsequently, the outstanding shares that remain in the market, exclusive of self-owned shares, are 349,493,458.

Strategic Leadership and Contact Access

Truecaller prioritizes effective communication with its stakeholders, highlighting the role of Andreas Frid, the esteemed Head of IR & Communication. Mr. Frid plays a pivotal role in overseeing investor relations and corporate communication strategies. Those seeking further details on the buyback program or other investor-related queries may reach him at +46 705 29 08 00 or via email at the provided contact link.

A Closer Look at Truecaller’s Position in the Digital Landscape

As a bastion in the telecommunications sector, Truecaller (TRUE B) stands tall as the preeminent global platform known for verifying contacts and efficiently circumventing unsolicited communication. Driven by a mission to bolster trust in communication mediums, Truecaller manifests as an imperative tool in fostering secure and significant exchanges amongst individuals, as well as between businesses and consumers.

The plague of fraud and undesirable communication is particularly rife within digital economies, especially in territories categorized as emerging markets. As a visionary entity, Truecaller's endeavors are aimed at mitigating these pervasive issues. The corporation’s contribution to safer communication is substantial, with its active user base expanding beyond 374 million individuals, substantial growth since its inception, and a record of identifying and blocking in excess of 50 billion unwanted calls throughout the year 2022 alone.

Nestled in the heart of Stockholm since 2009, Truecaller, led by its innovative co-founders and backed by an adept management team, continues to surge forward. The company's journey reached a pivotal milestone with its listing on Nasdaq Stockholm, a historical event marked on October 8, 2021. For those interested in learning more about the forward trajectory or historical ethos of Truecaller, a visit to the corporate website is encouraged.

Access to Official Documentation

Truecaller embodies transparency and accessibility by enabling public access to essential documents pertinent to its operational progress. As such, the company has ensured that interested parties can download relevant files which include a comprehensive overview of the share buybacks conducted during week 9 of 2024.

SOURCE: Truecaller AB

For those seeking a closer examination of the buyback details, Truecaller has facilitated a direct link to the press release. This pivotal document provides a granular view of the transactions made during the week 9 buyback process and stands as a testament to Truecaller’s dedication to maintaining open communication channels with the public and its investors alike.

Embracing Innovation with Truecaller

The move to repurchase shares is a reflection of Truecaller's unwavering commitment to innovation and shareholder value. As digital communication becomes increasingly woven into the fabric of global interaction, platforms like Truecaller play a critical role in establishing and maintaining the integrity of this exchange.

Truecaller's philosophy is heavily grounded in the provision of a service that not only validates contacts and blocks interference but also stands as a beacon of trust in an often ambiguous digital landscape. Its recognition as an essential component in daily communication speaks volumes of its efficacy and the immense trust placed in it by the hundreds of millions relying on its service.

The Future Outlook for Truecaller

As we look ahead, it is apparent that Truecaller will continue its mission to enhance shareholder value while diligently steering the company in this dynamic market. Its decisive actions to repurchase shares demonstrate a strategic foresight into capital management and an unwavering commitment to its users and shareholders.

"Press release buybacks week 9 2024 Truecaller" offers an in-depth perspective on the corporate moves and strategic decisions underlying the repurchasing program that could provide invaluable insights for current and potential stakeholders.

In Summary: Truecaller's Strategic Investment in Itself

With the culmination of the latest share buybacks, Truecaller AB (publ) stands poised for further growth, embodying a robust and proactive approach to capital management. This strategic initiative validates the Board's confidence in the company’s outlook and aims to bolster Truecaller's position in a competitive industry landscape.

The company continues to set precedents in corporate strategy and communication, fostering a culture of transparency and trust—principles that resonate well with its user base and stakeholders. As Truecaller navigates the fast-paced telecommunications market, its share buyback program signals a strong endorsement of its own operational capabilities and financial health.

Truecaller's undeterred focus on creating a safer communication environment while simultaneously elevating shareholder value is an exceptional narrative. As the company embarks on its next chapter, it does so with a fortified stock of self-ownership and the promising outlook of continued expansion and service excellence.

For future updates, in-depth analysis, and detailed reports, Truecaller invites interested parties to refer to the respective channels and documentation provided. Truecaller’s narrative is continually unfolding, one that speaks to a persistent drive towards evolution and the constant pursuit of establishing trust in every call and text sent across its global platform.

Truecaller's corporate journey, imbued with strategic initiatives such as share repurchase, points to a roadmap of deliberate and intelligent growth. Its efforts are not solely focused on market capitalization but also on fortifying the very essence of trusted communication that binds the digital community worldwide.

As we move further into 2024, the watchful eyes of the market will no doubt continue to follow Truecaller's strategic decisions. With a proven track record of tackling unwelcome communication and nurturing reliable connections, the company is solidly positioned to ascend to newer pinnacles of success in the digital age, a phenomenon that end-users, businesses, and investors alike can look forward to with anticipation.

In essence, Truecaller’s latest share buyback may very well be a harbinger of its envisioned course—marked by innovation, service excellence, and an uncompromising commitment to value creation. The fruition of these efforts resonates within the financial documents and strategic patterns now etched into the company's living history; an indelible blueprint for those who navigate the landscape of digital communication and business efficiency.

Through the information made available by Truecaller, including downloadable files and press releases, the investment community can garner a comprehensive understanding of the company’s strategic initiatives. Truecaller maintains its pledge to deliver value not only through service delivery but also by fortifying its corporate structure – a move underlined by this most recent and substantive share buyback program.

As Stockholm heralds these developments from the heart of Truecaller’s operations, the global market observes a model of corporate stewardship that is both proactive and reactive to the evolving challenges and opportunities of the digital era—a testament to Truecaller’s enduring commitment to its role as a leader in verified and secure communication.