Sanoma Corporation, Stock Exchange Release, 21 August 2018 at 12:00 CET+1
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 22 March 2018. 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 900,000, corresponding to 0.55% of the total number of shares. The maximum sum to be used for the repurchase is EUR 9.45 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 22 August 2018 at the earliest, and end by 31 January 2019, at the latest.
The AGM held on 22 March 2018 authorised the Board of Directors to decide on the repurchase 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 has 161, 293 own shares.
Kaisa Uurasmaa, Head of Investor Relations and CSR, tel. +358 40 560 5601
Sanoma is a front running media and learning company impacting the lives of millions every day. We provide consumers with engaging content, offer unique marketing solutions to business partners and enable teachers to excel at developing the talents of every child.
With operations in Finland, the Netherlands, Poland, Belgium and Sweden, our net sales totalled EUR 1.4 billion and we employed more than 4,400 professionals in 2017. Sanoma shares are listed on Nasdaq Helsinki. More information is available at www.sanoma.com.