Change in the holding of Kesko Corporation's treasury shares
Kesko Corporation has today transferred a total of 2,759 of its own B shares (KESKOB) held by the company as treasury shares to the members of Kesko’s Board of Directors. The transfer is based on the resolution made by the General Meeting on 11 April 2018 to pay a portion of the Board members’ annual fees in Kesko B shares.
Kesko Corporation’s Annual General Meeting on 11 April 2018 resolved that approximately 30% of the annual remuneration of the members of Kesko’s Board of Directors will be paid in B series shares in the company (Stock exchange release 11 April 2018). Kesko’s Board of Directors has decided to implement the resolution of the General Meeting regarding the payment of the share portion of the annual remuneration by transferring B shares held by the company as treasury shares to the Board members based on the valid authorisation granted to the Board by the General Meeting of 4 April 2016 (Stock exchange release 25 April 2018). The shares have been transferred to the Board members today. A Board member cannot transfer shares obtained in this manner until either three years have passed from the day the member has received the shares or their membership on the Board has ended, whichever comes first.
After the transfer of the shares, Kesko holds 524,585 of its own B shares as treasury shares.
Further information is available from Mika Majoinen, EVP, Group General Counsel, tel. +358 105 322 206.
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