Millicom (Tigo) cancels 3,096,305 treasury shares

Rhea-AI Summary

Millicom (TIGO) has announced the cancellation of 3,096,305 treasury shares following approval from its Board of Directors. This decision was authorized by the extraordinary general meeting of shareholders on May 21, 2025, and aligns with the share repurchase plan approved at the annual general meeting on May 23, 2024.

As a result of this cancellation, Millicom's issued share capital will be reduced to USD 253,500,000, represented by 169,000,000 shares with a par value of USD 1.50 each. The company's articles of association Article 5 will be amended to reflect these changes.

[ "Reduction in total shares outstanding can potentially increase earnings per share", "Demonstrates company's commitment to returning value to shareholders through share count reduction", "Implementation of previously announced share repurchase program shows execution of shareholder-friendly initiatives" ]

Positive

• None.

Negative

• Reduction in the company's total capital base
• Decreased market liquidity due to fewer shares in circulation

Millicom (Tigo) cancels 3,096,305 treasury shares

Luxembourg, May 21, 2025 – The Board of Directors of Millicom International Cellular S.A. (“Millicom” or the “Company”) approved the cancellation of 3,096,305 shares that will not be used for compensation programs,  pursuant to the authorization granted by the extraordinary general meeting of shareholders held today and the share repurchase plan approved by the annual general meeting of shareholders held on May 23, 2024. As a result, the Company’s issued share capital will be reduced to USD 253,500,000, represented by 169,000,000​ shares.

Article 5 of the articles of association of Millicom will be amended as follows:

"The Company has an issued capital of two hundred and fifty-three million five hundred thousand United States dollars (USD 253,500,000) represented by one hundred and sixty-nine million (169,000,000) shares with a par value of one United States dollar and fifty cents (USD 1.50) each, fully paid-in.”

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For further information, please contact:

Press:	Investors:
Sofia Corral, Director Corporate Communications press@millicom.com	Michel Morin, VP Investor Relations investors@millicom.com

About Millicom
Millicom (NASDAQ: TIGO) is a leading provider of fixed and mobile telecommunications services in Latin America. Through its TIGO® and Tigo Business® brands, the company provides a wide range of digital services and products, including TIGO Money for mobile financial services, TIGO Sports for local entertainment, TIGO ONEtv for pay TV, high-speed data, voice, and business-to-business solutions such as cloud and security. As of March 31, 2025, Millicom, including its Honduras Joint Venture, employed approximately 14,000 people and provided mobile and fiber-cable services through its digital highways to more than 46 million customers, with a fiber-cable footprint over 14 million homes passed. Founded in 1990, Millicom International Cellular S.A. is headquartered in Luxembourg with principal executive offices in Doral, Florida.

FAQ

How many shares did Millicom (TIGO) cancel in May 2025?

Millicom (TIGO) cancelled 3,096,305 treasury shares in May 2025.

What is Millicom's new share capital after the May 2025 share cancellation?

After the share cancellation, Millicom's issued share capital was reduced to USD 253,500,000, represented by 169,000,000 shares.

What is the par value of Millicom shares after the May 2025 cancellation?

The par value of Millicom shares remains at USD 1.50 each after the cancellation.

Why did Millicom (TIGO) cancel its treasury shares in 2025?

Millicom cancelled the treasury shares that were not intended for use in compensation programs, following authorization from shareholders and as part of their share repurchase plan.