Terveystalo optimizes its capital structure by launching a share buyback program
Terveystalo Plc Stock Exchange Release, 28 Oct 2021 at 08:57 EEST
The Board of Directors of Terveystalo Plc has today, 28 October, 2021, decided to launch a buyback program for Terveystalo's own shares based on the authorisation granted by Terveystalo’s Annual General Meeting on 25 March 2021.
The purpose of the share buyback program is to optimize the Company's capital structure through reduction of capital. The repurchase of own shares will reduce the Company's unrestricted equity. The repurchased shares will be cancelled.
The aggregate purchase price of all Terveystalo shares to be acquired under the buyback program shall not exceed EUR 13,5 million. The maximum amount of Terveystalo shares that can be repurchased in the buyback program is 1,000,000 shares corresponding to approximately 0.8 per cent of the total number of shares in Terveystalo.
The share repurchases will start at the earliest on 29 October 2021 and end by 6 April 2022.
The repurchases will be carried out in accordance with the so-called safe harbour procedure referred to in Article 5 of the EU Market Abuse Regulation (EU N:o 596/2014). The shares will be acquired through public trading on Nasdaq Helsinki. Terveystalo has appointed Nordea as the manager for the share buyback program. The manager will make trading decisions independently of and without influence from Terveystalo, within the announced limits. This concerns also the timing of purchases.
The price payable per share shall be determined in public trading on Nasdaq Helsinki at the time of the repurchases, in compliance with the price and volume limits applicable under the safe harbor procedure. The minimum price to be paid would be the lowest market price of the share quoted during the authorisation period and the maximum price would be the highest market price quoted during the authorisation period.
Terveystalo may suspend or terminate the program prior to its scheduled end date and will in such case issue a stock exchange release to this effect.
Terveystalo holds 730,000 own shares prior to the commencement of the buyback program.
For more information, please contact:
Liisa-Maija Seppänen, Investor Relations Manager
+358 50 3144 455
liisa-maija.seppanen@terveystalo.com
Distribution:
Nasdaq Helsinki Oy
Principal media
www.terveystalo.com
Terveystalo in brief
Terveystalo is Finland's largest health service company in terms of revenue and network, with the aim of empowering lifelong health and well-being and building a healthier society. The company provides comprehensive well-being, primary care and specialist care services to corporate and private customers, as well as the public sector. Terveystalo's digital appointment serves are available 24/7, regardless of time and place. In addition, the company offers health and well-being services in more than 300 locations throughout Finland.
In 2020, Terveystalo had 1.2 million individual customers. Some 6.9 million customer visits were made, of which more than a quarter took place in remote channels. Terveystalo employs more than 13,000 health and well-being professionals.
Tags: