Citycon Oyj completes the repurchase of own shares under the share buy-back programme
CITYCON OYJ Stock Exchange Release 10 January 2022 at 16:20 hrs
Citycon Oyj (“Citycon” or the “Company”) has completed the share buy-back programme and the repurchase of the Company’s own shares (ISIN code FI4000369947), which started on 20 December 2021 and ended on 10 January 2022. During this period, a total of 500,000 own shares were repurchased for an average price of approximately EUR 6.97 per share. The total amount used for the repurchase was approximately EUR 3.49 million. The shares were repurchased in public trading on Nasdaq Helsinki Ltd at the market price prevailing at the time of purchase. The shares were repurchased on the basis of the authorisation given by the Annual General Meeting to the Board of Directors on 22 March 2021. The shares were repurchased to distribute surplus funds received from the divestment of necessity-based retail centre Columbus to the shareholders of Citycon and to be used as a part of the share-based incentive plans of Citycon.
Following the repurchase, Citycon holds a total of 489,585 own shares in the Company, corresponding to approximately 0.29 per cent of the current total number of Citycon’s shares. At the moment, the total number of shares and votes in Citycon is 168,498,525.
Pursuant to the decision by the Board of Directors of the Company on 17 December 2021, 10,415 repurchased shares will be held by the Company and paid to the key employees in accordance with the Company’s share-based incentive plans and the rest of the repurchased shares, i.e., 489,585 Citycon shares, will be cancelled.
As announced on 4 January 2022, the Company has conveyed a total of 10,415 own shares held by the Company in a directed share issue without consideration to four key persons for payment of rewards under the Company’s share-based incentive plan.
The cancellation of the 489,585 repurchased shares is expected to be registered with the trade register maintained by the Finnish Patent and Registration Office on or about 13 January 2022. The cancellation of the shares will have no effect on the share capital of Citycon.
Following the cancellation, the new total number of shares in Citycon will be 168,008,940 and the new total number of votes attached to the shares will be 168,008,940.
Following the completion of the share buy-back programme, Citycon has acquired a total of 10,000,000 shares on the basis of the authorisation granted by the Annual General Meeting on 22 March 2021 and the Board of Directors has fully exercised the said authorisation granted by the Annual General Meeting to the Board of Directors to repurchase own shares.
For further information, please contact:
Vice President, Strategy and Investor Relations
Tel. +358 40 725 7573
Citycon is a leading owner, manager and developer of mixed-use centres for urban living including retail, office space and housing. We are committed to sustainable property management in the Nordic region with assets that total approximately EUR 4.5 billion. Our centres are located in urban hubs with a direct connection to public transport. Placed in the heart of communities, our centres are anchored by groceries, healthcare and services to cater for the everyday needs of customers.
Citycon has investment-grade credit ratings from Moody's (Baa3), Fitch (BBB-) and Standard & Poor's (BBB-). Citycon’s share is listed on Nasdaq Helsinki Ltd.