Change in the holding of Kesko Corporation's treasury shares
Kesko Corporation has today transferred a total of 2,378 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 Annual General Meeting on 8 April 2019 to pay a portion of the Board members’ annual fees in Kesko B shares.
Kesko Corporation’s Annual General Meeting on 8 April 2019 resolved that approximately 30% of the annual fees for members of Kesko’s Board of Directors will be paid in B series shares in the Company (Stock exchange release 8 April 2019). Kesko’s Board of Directors decided to implement the resolution of the Annual General Meeting regarding the payment of the share portion of the annual fees by transferring B shares held by the Company as treasury shares to the Board members based on the valid share issue authorisation granted by the General Meeting of 4 April 2016 (Stock exchange release 25 April 2019). The shares were 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 927,964 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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