Sanoma has repurchased its shares during recent years. All treasury shares held by the Company have been cancelled and at the moment Sanoma has no treasury shares in its possession. The last cancellation (2 450 000 shares) was entered into the Trade Register on 19 February 2009.
Sanoma's Board of Directors have an authorisation of the Annual General Meeting of 9 April 2014 to repurchase 16,000,000 own shares. The authorisation is valid until 30 June 2015.
These shares will be purchased with the Company's unrestricted shareholders' equity, and the repurchases will reduce funds available for distribution on profits. The shares will be repurchased to develop the Company's capital structure, carry out or finance potential corporate acquisitions or other business arrangements, to be used as a part of the Company’s incentive programme or to be otherwise conveyed further, retained as treasury shares, or cancelled.
The shares can be repurchased either through a tender offer made to all shareholders on equal terms or in other proportion than that of the current shareholders at the market price of the repurchase moment on the NASDAQ OMX Helsinki Ltd.
|Own shares under the authorisation of AGM 9 April 2014||14 April 2014|
|Shares held by the Company, total||0|
|Treasury shares of total share capital, %||0|
|Total cost of acquiring treasury shares, EUR||0|
|Total number of shares according to the authorisation||16,000,000|
Sanoma's Board has not yet decided to begin share repurchases. When the repurchases begin, the data is updated weekly. Latest data on repurchases can be found on the website of NASDAQ OMX: