Revenio Group Corporation: Revenio to begin the buy-back of its own shares
Revenio Group Corporation, Stock Exchange Release, March 16, 2020 at 16:00
Revenio Group Corporation to begin the buy-back of its own shares
The Board of Directors of Revenio Group Corporation has decided to use the authorization given by the Annual General Meeting of March 20, 2019 to buy back the company’s own shares by initiating a share buy-back program.
The share buy-back will begin at the earliest on March 17, 2020 and end at the latest on March 31, 2020. The maximum number of shares to be bought back is 80,000, which represents 0.3 per cent of all shares in Revenio Group Corporation. The maximum sum to be used for share acquisitions under the buy-back program is EUR 1,700,000
The shares will be acquired to fulfil obligations related to the Company’s share-based commitment and incentive schemes.
The shares will be acquired with the Company's non-restricted equity, otherwise than in proportion to the shareholders’ shareholdings. The shares will be acquired at the market price quoted in public trading organized by Nasdaq Helsinki Ltd on a regulated market at the time of acquisition. The number of shares to be acquired cannot exceed 25 per cent of the average daily trading volume of Revenio Group Corporation’s shares. The average daily volume is based on the average daily volume of the 20 trading days preceding each trading day.
On March 20, 2019, the AGM authorized the Board to make the decision to buy back a maximum of 2,401,647 of the company's own shares in one or several tranches using the Company's non-restricted equity.
Revenio Group Corporation has a total of 26,582,308 shares and currently owns 53,184 treasury shares.
Revenio Group Corporation
Board of Directors
For further information, please contact:
Timo Hildén, CEO, tel. +358 40 580 4774
Nasdaq Helsinki Oy
Financial Supervisory Authority (FIN-FSA)
The Revenio Group in brief
Revenio, a health technology group operating in the international markets, is one of the global leaders in ophthalmic appliances.
The Revenio Group consists of Icare Finland Oy, Icare USA Inc., Revenio Italy S.R.L, CenterVue SpA, CenterVue Inc, Revenio Research Oy and Oscare Medical Oy.
The common denominators of Revenio's business operations include patient-oriented screening, follow-up and the global need to make cost savings through preventive health care. Revenio seeks vigorous growth in health technology. Revenio aims to develop even more efficient and easily adopted methods for the early-stage detection of diseases with significance for public health. The aim is to improve the quality of life through health technology solutions which enable more effective diagnostics. Revenio Group’s focus is on the early detection of glaucoma, diabetic retinopathy and macular degeneration, and the monitoring of these during the treatment process. Revenio Research concentrates on the commercialization of systems supporting the diagnosis of and treatment planning for skin cancer and asthma.
In 2019, Revenio Group's net sales totalled EUR 49.5 million, with its net operating profit standing at 25.5%. Revenio Group Corporation is listed on Nasdaq Helsinki.