Conveyance of Citycon Oyj's own shares for payment of rewards earned under incentive programme and severance payments
CITYCON OYJ Stock Exchange Release 8 May 2019 at 13:30 hrs
Citycon Oyj has on 8 May 2019 conveyed 60,702 own shares held by the company in a directed share issue without consideration for payment of rewards earned under the company's share-based incentive programmes and agreed severance payments.
Under the Matching Share Plan 2018–2020 a total of 15,702 shares were conveyed to two persons for payment of rewards earned in accordance with the terms and conditions of said plan. Under the Restricted Share Plan 2018–2020 a total of 20,000 shares were conveyed to three persons for payment of rewards earned in accordance with the terms and conditions of said plan. In addition, a total of 25,000 shares were conveyed to two persons as a severance payment.
On 16 April 2019, Citycon Oyj's Board of Directors decided on the repurchase and conveyance of an aggregate maximum number of 171,300 of its own shares in several separate transactions during 2019-2021 to implement payments of rewards earned under the company's share-based incentive programmes and agreed severance payments.
The conveyance of shares is based on the authorisation granted to the Board of Directors by the General Meeting of Shareholders held on 13 March 2019. The shares were conveyed and registered in the recipient's book-entry account on 8 May 2019, after which they entitle their holder to dividend and other shareholder rights.
Further details concerning the company's Matching Share Plan 2018–2020 and Restricted Share Plan 2018–2020 are available in the company's remuneration statements.
The company does not hold any of its own shares after the conveyance.
Espoo, 8 May 2019
IR and Communications Director
+358 40 838 07 09
Citycon is a leading owner, manager and developer of urban, grocery-anchored shopping centres in the Nordic region, managing assets that total almost EUR 4.5 billion. Citycon is No. 1 shopping centre owner in Finland and among the market leaders in Norway, Sweden and Estonia. Citycon has also established a foothold in Denmark.
Citycon has investment-grade credit ratings from Moody's (Baa3) and Standard & Poor's (BBB-). Citycon Oyj’s share is listed in Nasdaq Helsinki.