Boku, Inc. (LON:BOKU), a global network of local payment methods, today announced that its board of directors has provided authority for the company to repurchase up to 5% of its common stock, and hold in Treasury, with par value of $0.0001 per share in the capital of the company in issue at any one time.

The company currently holds 6,507,891 Common Stock in Treasury, representing approximately 2.1% of the total Common Stock in issue. The Board has now approved a share buyback program to repurchase up to a maximum of 4,000,000 Common Stock.

The Board believes that the current share price undervalues the Company. The Buyback Programme represents a good investment opportunity and effective use of our growing own-cash balances, as well as a reaffirming our belief in the Company’s long term growth plan. Shares purchased will be held in Treasury and may be used to satisfy future obligations from warrant holders or the staff equity remuneration programme, thus minimising future dilution for shareholders.

The Company has instructed Investec Bank plc, the Company’s joint broker, to conduct the Buyback Program on its behalf in accordance with the authority granted by the Company’s Board.

The Buyback Program will be effected within certain pre-set parameters, including that the maximum price paid per Common Stock shall be no more than the lower of (a) 5 per cent. above the average of the middle market prices of the Common Stock (as derived from the London Stock Exchange Daily Official List) for the five business days immediately preceding the day of which the purchase is made; and (b) the higher of the price of the last independent trade and the highest current independent purchase bid on the trading venue on which the purchase is carried out.

The Buyback Programme will be effective from today’s date and will expire on 30 April 2026, or earlier, if the maximum aggregate number of Common Stock has been purchased. At that point, the Board intends to assess whether or not to commence a further buyback, within the Board authority to repurchase up to 5% of the Common Stock, based on the circumstances at the time and will provide an update as appropriate.