Raketech’s Board of Directors Withdraws Dividend Proposal

TRIQ I-IMSIDA IL-GZIRA, MALTA / ACCESSWIRE / May 14, 2024 / Raketech (STO:RAKE) After careful consideration and in order to best serve the business's needs, increase the company's long-term financial flexibility, and serve the long-term interests of both the company and its shareholders, the Raketech Board of Directors has decided to withdraw its previously announced proposal to the Annual General Meeting on 16 May 2024 to distribute dividends in 2024.

"In light of the revised full year guidance announced May 1, 2024, and our current financial obligation relating to the Casumba earnout, it is paramount that we prioritize the company's financial flexibility. While we recognize the significance of dividends to shareholders, we believe that withdrawing the proposed dividend and increasing our financial flexibility is the right thing to do to ensure long-term sustained growth and value creation. This decision underscores Raketech's commitment to prudent financial management and its focus on delivering sustainable growth and profitability. The company remains committed to delivering value to its shareholders and will continue to assess opportunities to enhance shareholder returns in a manner that aligns with its long-term strategic objectives," says Ulrik Bengtsson, Chairman of the Board.

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About Raketech Group

Raketech is a leading online affiliate and content marketing company, with expertise in delivering comparison services for sports and gaming, online guides, communities, and social media products. Raketech guides sports and gaming enthusiasts to the best possible services, while also delivering high-quality traffic and leads to its partners. Raketech grows both organically and via acquisitions and operates its business in accordance with a clear framework for responsible affiliate marketing services. The company's shares are listed in Nasdaq First North Premier Growth Market with ticker RAKE. Carnegie Investment Bank AB (publ) is the company's Certified Adviser. For more information, visit www.raketech.com.

This information is information that Raketech is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-05-14 20:00 CEST.

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Raketech's Board of Directors withdraws dividend proposal

SOURCE: Raketech

View the original press release on accesswire.com


The Raketech Group Holding P.L.C Stock at the time of publication of the news with a fall of -0,11 % to 19,00SEK on Stockholm stock exchange (17. Mai 2019, 20:00 Uhr).