DOM 24 DE ENERO DE 2021 - 19:22hs.
Kristian Nylén

Kambi Group CEO reduces shareholding by 6%

Kristian Nylén, chief executive of sports betting supplier Kambi Group, has sold 45,000 shares in the company in order to repay a loan taken out in March 2020, which was to pay the option price and income tax due on the exercise of 300,000 share options issued to the CEO in 2013. Nylén remains a major long-term shareholder in Kambi, with 2.3% of total shares in the Group.

Kambi Group CEO Kristian Nylén has sold 45,000 shares in the company with a majority of the proceeds of the sale being used to fully repay the company loan, including interest due, he had taken out to exercise options in March 2020.

Nylén remains a major long-term shareholder in Kambi. Following the transaction, Nylén owns 720,000 shares, corresponding to 2.3% of total shares in the Group.

Results published last week showed that Kambi expects revenue for the fourth quarter of 2020 to fall between €46.0m and €48.0m, meaning full-year revenue could rise 27.6% to €117.8m, despite the suspension of sports for much of the year.

Revenue for the quarter was up around 76% year-on-year, however expenses also rose to between €24.0m and €25.0m. The supplier said this was mostly due to the higher costs of stock options caused by the strong performance of Kambi shares.

Kambi’s share price increased 34.3% during Q4, ending the year at £35 per-share. Full-year earnings before interest and tax is expected to be between €31.0m and €34.0m.

Source: GMB / iGB