Amsterdam-based TomTom, the location technology specialist, has announced the resumption of its share buyback program to repurchase ordinary TomTom shares.
The original program was to repurchase shares for an amount up to €50M. However, due to the Covid-19 pandemic, in March 2020, the company had to withdraw its decision. This was because there was uncertainty regarding the duration of the pandemic’s economic impact, which could not have been assessed at that time.