Northern Data CEO Aroosh Thillainathan has announced plans to acquire additional company shares worth up to EUR 10 million over the next two months. This strategic initiative underscores his confidence in the company's growth trajectory and investment strategy.
CEO's Financial Decision
Aroosh Thillainathan has expressed confidence in the potential for Northern Data's further growth, underscoring this with his decision to acquire more company shares. The purchase will be executed through a preset plan with a broker as an irrevocable standing order. The plan includes measures such as limiting daily purchases on the Frankfurt Stock Exchange to 25% of the average daily trading volume over the preceding 20 trading days, ensuring that the EUR 10 million order is executed within the two-month period given sufficient trading volumes.
Details of the Purchase
At the time of the announcement, Thillainathan already holds 3,823,806 shares, which constitutes approximately 7.15% of Northern Data's share capital. Following the completion of the recently announced capital increase, which will expand the company's share capital by 20%, his stake is expected to rise to more than 8%. This significant share acquisition comes after a highly successful first half of the year, during which Northern Data's revenue increased by 49% year-on-year, reaching EUR 55 million.
Company's Future Prospects
Thillainathan's decision to increase his shareholding is a clear signal of his confidence in Northern Data's future performance. The Group is on track to achieve an impressive 200% revenue growth by the end of FY 2024, with expectations to reach revenues between EUR 520 million and EUR 570 million by FY 2025. Northern Data continues to make significant investments across its core business platforms: Taiga Cloud, Ardent Data Centers, and Peak Mining. These investments are positioning the company as a leader in High-Performance Computing (HPC) solutions, particularly in sectors driving innovation in AI and machine learning.
Aroosh Thillainathan's share purchase highlights his confidence in Northern Data's long-term prospects. This initiative is a key indicator of the company's strategic directions and the potential for sustained success.
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