schreef:
Amsterdam, 28 February 2023 – Today, Azerion has announced its intention to cancel up to
58,690,961 ordinary shares held in treasury, in order to reduce the number of shares outstanding. A
resolution for the cancellation of the treasury shares will be submitted at the next Annual General
Meeting (AGM), which is scheduled for 15 June 2023.
Atilla Aytekin, co-CEO of Azerion, comments: “Since the listing Azerion has matured significantly in
its operations and performance. The company’s success during a challenging macro environment
supports our belief in the fundamental growth of our business. These developments allow us to use
our cash flow to fund future growth and be less reliant on equity as a form of M&A currency going
forward.”
The resolution to the AGM will propose that 3,000,000 million shares are left in treasury for the
purpose of employee stock options and earn outs from previous acquisitions. Currently Azerion has a
total of 61,690,961 shares held in treasury, from a total of 181,561,748 outstanding shares.
Once the treasury shares are cancelled, the proposed ordinary shares outstanding in Azerion N.V. can
be summarised as followed (based on current number of shares held in treasury):