Sanoma Corporation, Stock Exchange Release, 25 March 2020 at 19:05 EET
Sanoma starts repurchasing own shares for its incentive programme
The Board of Directors of Sanoma Corporation has decided to start repurchasing the company’s own shares on the basis of the authorisation given by the Annual General Meeting on 25 March 2020. The shares shall be repurchased to be used as a part of the Company’s incentive programme. The maximum number of shares to be acquired is 304,000, corresponding to 0.19% of the total number of shares. The maximum sum to be used for the repurchase is EUR 3.4 million. The shares shall be acquired in public trading on Nasdaq Helsinki Ltd. at the market price prevailing at the time of purchase. The share repurchase shall start on 26 March 2020 at the earliest, and end by 31 January 2021, at the latest.
The AGM held on 25 March 2020 authorised the Board of Directors to decide on the repurchase of a maximum of 16,000,000 of the Company’s own shares (approx. 9.8% of all shares of the Company) in one or several instalments. Own shares shall be repurchased with funds from the Company’s unrestricted shareholders’ equity.
The total number of shares in Sanoma Corporation is 163,565,663. At the moment, Sanoma Corporation holds 224,977 of its own shares.
Kaisa Uurasmaa, Head of Investor Relations and CSR, tel. +358 40 560 5601
Sanoma is a front running learning and media company impacting the lives of millions every day. We enable teachers to excel at developing the talents of every child, provide consumers with engaging content, and offer unique marketing solutions to business partners.
Today, we have operations in ten countries including Finland, the Netherlands and Poland. Our net sales totalled EUR 900 million and we employed approx. 3,500 professionals in 2019. Sanoma shares are listed on Nasdaq Helsinki. More information is available at www.sanoma.com.