Verkkokauppa.com Oyj to start to acquire the company’s own shares
Verkkokauppa.com Oyj COMPANY RELEASE April 24, 2020 at 8:15
Verkkokauppa.com Oyj to start to acquire the company’s own shares
The Board of Directors of Verkkokauppa.com Oyj has decided to commence acquiring the company’s own shares on the basis of the authorisation granted by the Annual General Meeting held on 31 March 2020. The maximum number of shares to be acquired is 300,000, which represents approximately 0.67 per cent of all shares in Verkkokauppa.com Oyj. The shares will be acquired through trading on First North Finland marketplace operated by Nasdaq Helsinki Ltd at the market price prevailing at the time of acquisition. The share acquisitions will commence at the earliest on 11 May 2020 and they will end at the latest on 31 August 2020. The acquired shares are intended mainly to be used for the payment of the share portion of the annual fees of the members of the Board of Directors and the matching shares under the performance matching share plan of key employees.
The Annual General Meeting held on 31 March 2020 authorised the Board of Directors to decide on the repurchase of a maximum of 4,506,513 shares in one or several instalments using the unrestricted equity of the company. Shares may be purchased for the purpose of improving the company’s capital structure, financing or carrying out corporate acquisitions or other arrangements, implementing prospective incentive and remuneration schemes, or to be otherwise transferred further, retained as treasury shares or cancelled. The authorization is valid until the close of the following Annual General Meeting, however, no longer than until 30 June 2021.
The maximum sum to be used for share acquisitions is EUR 1.5 million. The shares will be acquired otherwise than in proportion to the shareholdings of shareholders using the company’s unrestricted equity.
The resolutions of the Annual General Meeting were communicated in a company release on 31 March 2020. The long-term incentive plan for key employees has been communicated in a company release on 13 February 2020.
For more information, please contact:
Panu Porkka
CEO
Tel. 5
Mikko Forsell
CFO
Tel. 5
Certified Adviser
Nordea Bank Oyj
Tel. 5
Distribution:
Nasdaq Helsinki
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