Lehto Group Plc will start to repurchase the company’s own shares
Lehto Group Plc
Stock exchange release
23 March 2020 at 10.15 a.m.
Lehto Group Plc’s (”Lehto” or the “Company”) Board of Directors has on 20 March 2020 decided on the basis of the authorisation granted by the Annual General Meeting of shareholders held on 29 March 2019 to commence repurchasing the Company’s own shares. The shares shall be repurchased to meet the Company's obligations under the share-based incentive plans or for other purposes defined in the authorization of the Annual General Meeting.
The share repurchases shall start on 23 March 2020, at the earliest, and end by 31 May 2020, at the latest. The maximum number of shares to be repurchased is 380,000 in total, corresponding to approximately 0.65% of the total number of Lehto’s shares. The maximum pecuniary amount to be used for the repurchase is EUR 500,000.
The shares will be acquired with the Company's non-restricted equity. The shares shall be acquired through public trading on Nasdaq Helsinki exchange otherwise than in proportion to the share ownership of the shareholders at the market price prevailing at the time of purchase.
Lehto's Board of Directors is authorized by the Annual General Meeting held on 29 March 2019 to acquire a maximum of 5,800,000 shares in the Company in one or several instalments. The authorization is valid until the 2020 Annual General Meeting.
The total number of the Company's shares and voting rights is 58,309,443. Currently, the company does not own any of its own shares.
Chief Financial Officer
+358 400 944 074
Lehto Group Plc:
Lehto is an innovator in the construction sector. We build housing, business premises, care homes and schools. In addition, we carry out pipeline renovations in apartment buildings. Our goal is to transform our industry – to build faster, at a more affordable price and with higher quality. Lehto’s approach to construction is in line with the megatrends in the sector: industrial prefabrication, digitalisation and ecology.