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Video advertising technology company Tremor International has 'paused' its $10 million buyback programme and announced the appointment of Lisa Klinger as a non-executive director.
The company said it has halted its buyback programme, originally announced on 20 December 2020, while it pursues a proposed IPO of American depositary shares representing its ordinary shares in the US, which is expected to take place in the second quarter of 2021 after the SEC completes its review process.
Under the current buyback programme, $6.6 million in ordinary shares have been acquired and reclassified as dormant shares under Israeli Companies Law and will be held in treasury.
Tremor International also announced it has appointed Klinger as non-executive director and chair of its audit committee.
Most recently, she was chief financial officer at Ideal Image Development between 2018 and 2019, and prior to that she held the role of chief financial and administrative officer between 2016 and 2017 at Peloton Interactive.
At 2:48pm: (LON:TRMR) Tremor International LTD share price was 0p at 226p