Sanoma Corporation, Stock Exchange Release, 8 November 2021 at 15:15 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 2021 Annual General Meeting. 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 361,000, corresponding to 0.22% of the total number of shares. The maximum sum to be used for the repurchase is EUR 6.0 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 9 November 2021 at the earliest, and end by 30 June 2022, at the latest.
The AGM held on 13 April 2021 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 318,614 of its own shares.
Kaisa Uurasmaa, Head of Investor Relations and Sustainability, tel. +358 40 560 5601
Sanoma is an innovative and agile learning and media company impacting the lives of millions every day.
Our learning products and services enable teachers to develop the talents of every child to reach their full potential. We offer printed and digital learning content as well as digital learning and teaching platforms for primary, secondary and vocational education, and want to grow our business across Europe.
Our Finnish media provide independent journalism and engaging entertainment also for generations to come. Our unique cross-media position offers the widest reach and tailored marketing solutions for our business partners.
Today, we operate in eleven European countries and employ close to 5,000 professionals. In 2020, our net sales amounted to approx. 1.1bn€ and our operational EBIT margin excl. PPA was 14.7%. Sanoma shares are listed on Nasdaq Helsinki. More information is available at www.sanoma.com.