Fondia launches a new own share repurchase programme
Fondia Plc
Company release
17.5.2024 at 12.15 p.m. EEST
The Board of Directors of the company has decided to continue the repurchase of the company's own shares through a new repurchase programme. The previous repurchase programme was carried out from September 2023 to March 2024.
Under the current repurchase programme, the purchase of shares will start on Monday, May 20, 2024, at the earliest and will end on Friday, December 20, 2024, at the latest. The maximum number of shares to be repurchased during the repurchase programme is 100,000 shares, corresponding to approximately 2.53 per cent of the total number of shares in the company. However, the maximum amount to be used for the acquisition of shares will not exceed EUR 800,000. The shares will be acquired by Fondia's partner bank in a public trading on the Nasdaq First North Growth Market Finland, operated by Nasdaq Helsinki Ltd, at the market price at the time of acquisition, other than in proportion to the shareholdings of the shareholders. The acquisition of own shares will be financed by the company's distributable free equity.
The shares will be acquired in accordance with the authorisation granted to the Board of Directors by the Annual General Meeting on March 20, 2024, for the purpose of developing the company's capital structure, for transfer for the purpose of financing or implementing possible acquisitions, investments or other arrangements relating to the company's business, for use in the company's incentive schemes or otherwise for further transfer, retention or annulment.
Pursuant to the authorisation granted by the Annual General Meeting on March 20, 2024, the Board of Directors may decide to repurchase the Company's own shares up to a maximum of 300,000 shares, corresponding to approximately 7.6 per cent of the total number of shares in the Company. However, the Company, together with its subsidiaries may not own/or pledge more than 10 per cent of all shares in the Company at any time. The authorisation is valid until the next Annual General Meeting, but not later than June 30, 2025.
Fondia Plc has a total of 3,953,134 shares. The company currently holds 149,454 treasury shares, representing approximately 3.78 per cent of the total number of shares in the company.
Fondia Plc
For further information, please contact:
Group CEO Harri Savolainen, tel. +358 40 502 1919
Certified Adviser Aktia Alexander Corporate Finance Ltd, tel. +358 50 520 4098
Fondia in brief
Fondia solves the legal needs of companies by combining the best services from internal legal departments and law firms. Fondia operates in Finland, Sweden, Estonia, and Lithuania, and the Group’s net sales in 2023 were EUR 26.1 million. Fondia employs over 190 people.
Distribution:
Nasdaq Helsinki Ltd
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