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.
The post Raketech’s Board of Directors withdraws dividend proposal appeared first on European Gaming Industry News.
