Verkkokauppa.com Oyj COMPANY RELEASE May 4, 2018 at 8:15
The Board of Directors of Verkkokauppa.com Oyj has decided to commence acquiring the company's own shares on the basis of the authorisation granted by the Annual General Meeting held on 21 March 2018. The maximum number of shares to be acquired is 40,000, which represents approximately 0.09 per cent of all shares in Verkkokauppa.com Oyj. The shares will be acquired through trading on First North Finland marketplace operated by Nasdaq Helsinki Ltd at the market price prevailing at the time of acquisition. The share acquisitions will commence at the earliest on 7 May 2018 and they will end at the latest on 31 August 2018. The acquired shares are intended to be used mainly for the payment of the share portion of the annual fees of the members of the Board of Directors.
The Annual General Meeting held on 21 March 2018 authorised the board of Directors to decide on the repurchase of a maximum of 4,506,513 shares in one or several instalments using the unrestricted equity of the company. Shares may be purchased for the purpose of improving the company's capital structure, financing or carrying out corporate acquisitions or other arrangements, implementing prospective incentive and remuneration schemes, or to be otherwise transferred further, retained as treasury shares or cancelled. The authorization is valid until the close of the following Annual General Meeting, however, no longer than until 30 June 2019.
The maximum sum to be used for share acquisitions is EUR 0.5 million, with a maximum price per share of EUR 7.00. The shares will be acquired otherwise than in proportion to the shareholdings of shareholders using the company's unrestricted equity.
The resolutions of the Annual General Meeting were communicated in a company release on 21 March 2018.
For more information, please contact:
Panu Porkka
CEO
panu.porkka@verkkokauppa.com
Tel. +358 10 309 5555
Jussi Tallgren
CFO
jussi.tallgren@verkkokauppa.com
Tel. +358 10 309 5555
Certified Adviser
Nordea Bank Finland Plc
Tel. +358 9 5300 6785
Distribution:
NASDAQ OMX Helsinki
Principal media
www.verkkokauppa.com