Suominen to start the repurchase of its own shares
Suominen Corporation's stock exchange release on November 1, 2021 at 9:30 a.m. EEST
The Board of Directors of Suominen Corporation has decided to use the authorization given by the Annual General Meeting held on March 25, 2021 to repurchase the company’s own shares. The maximum number of shares to be repurchased in one or more instalments is 400,000 shares, corresponding to approximately 0.7% of the total number of the company’s shares, which is 58,259,219. The maximum amount to be spent on the repurchases is EUR 2,5 million. The weighty financial reason for the repurchases is that they are to be used for pay-outs under the share-based incentive programmes of Suominen Corporation.
The shares are purchased otherwise than in proportion to shareholders’ current holdings
using the company’s non-restricted shareholders’ equity at the market price valid at the time of purchase of the shares through trading in a regulated market arranged by NASDAQ Helsinki Oy. The shares are acquired and paid for according to the rules and instructions of NASDAQ Helsinki Oy and Euroclear Finland Ltd.
The share repurchases will commence on November 3, 2021 at the earliest and end on February 28, 2022 at the latest.
The Board of Directors is authorized to resolve to repurchase a maximum of 400,000 Suominen’s own shares. The authorization is valid until June 30, 2022.
At the moment Suominen holds 634,661 own shares.
Board of Directors
For additional information, please contact: Toni Tamminen, CFO, tel. +358 (0)10 214 3051
Suominen manufactures nonwovens as roll goods for wipes and other applications. Our vision is to be the frontrunner for nonwovens innovation and sustainability. The end products made of Suominen’s nonwovens are present in people’s daily life worldwide. Suominen’s net sales in 2020 were EUR 458.9 million and we have over 700 professionals working in Europe and in the Americas. Suominen’s shares are listed on Nasdaq Helsinki. Read more at www.suominen.fi.