Authorisation to decide on a share issue
The AGM held on 12 April 2016 authorised the Board of Directors to decide on an issuance of a maximum of 50,000,000 new shares and a transfer of a maximum of 5,000,000 treasury shares. The authorisation will be valid until 30 June 2019.
In a directed share issue, a maximum of 41,000,000 shares can be issued or transferred.
Authorisation to decide on the repurchase of the Company’s shares
The AGM held on 22 March 2018 authorised the Board of Directors to decide on the repurchase a maximum of 16,000,000 of the Company’s own shares (approximately 9.8% of all shares of the Company) in one or several instalments. *) Own shares shall be repurchased with funds from the Company’s unrestricted shareholders’ equity, and the repurchases shall reduce funds available for distribution of profits. The authorisation will be valid until 30 June 2019 and it terminates the corresponding authorisation granted by the AGM 2017.
The shares shall be repurchased to develop the Company’s capital structure, to carry out or finance potential corporate acquisitions or other business arrangements, to be used as a part of the Company’s incentive programme or to be otherwise conveyed further, retained as treasury shares, or cancelled.
*) Based on this authorisation, Sanoma Corporation repurchased a total of 900,000 own shares on 22 August – 12 October 2018.
Stock release related to the completion of the repurchase (15.10.2018)