BetMakers to launch on-market share buy-back

BetMakers Technology Group Ltd (ASX: BET) announced that it aims to carry out an on-market share buy-back of up to 10% of the company's shares. The Buy-Back is forecasted to start on 12 July 2022. As the company has recently signed and entered into deals that will give the company strong growth in FY23, and the company forecasts this to continue. Also, the company is in a strong financial position with its improving cash flow and with current market conditions providing the company with an opportunity to maximize its shareholder value through a Buy-Back.

BetMaker's existing cash reserves will fund the Buy-Back program and the program will be conducted within the "10/12 limit" permitted under the Corporations Act 2001. Under this act, the company can buy-back up to 10% of the shares issued at any time over the period of 12 months without any shareholder approval.

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