Verkkokauppa.com Oyj to start to acquire the company's own shares
Verkkokauppa.com Oyj COMPANY RELEASE May 10, 2019 at 8:15
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 28 March 2019. The maximum number of shares to be acquired is 52,000, which represents approximately 0.12 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 13 May 2019 and they will end at the latest on 31 August 2019. 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 matching share plan of key employees.
The Annual General Meeting held on 28 March 2019 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 2020.
The maximum sum to be used for share acquisitions is EUR 0.4 million, with a maximum price per share of EUR 7.00. 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 28 March 2019. The long-term incentive plan for key employees has been communicated in company releases on 16 May 2018 and 21 December 2018.
For more information, please contact:
Tel. +358 10 309 5555
Tel. +358 10 309 5555
Nordea Bank Oyj
Tel. +358 9 5300 6785
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