Pihlajalinna Oyj (HLSE:PIHLIS) commences share repurchases on January 15, 2021, under the program mandated by the shareholders in the Annual General Meeting held on April 15, 2020. As per the mandate, the company is authorized to repurchase up to 2,061,314 shares, representing 9.11% of its issued share capital. The shares will be repurchased at a price formed on a regulated market at the date of the repurchase or otherwise at the market price. The program will be will be funded out of the company's unrestricted shareholders’ equity or derivatives. The authorization will remain in force until the end of the next Annual General Meeting, however, no longer than until 30 June 2021. As of March 13, 2020, the company has 22,620,135 shares outstanding and no shares in treasury. On January 13, 2021, the company announces a share repurchase program. Under the program, the company will repurchase up to 60,000 shares, representing 0.27% of its issued share capital for €0.72 million. The shares shall be repurchased to be used as a part of the company’s incentive program. The repurchases will commence on January 14, 2021 and the program is valid till March 31, 2021. As on January 13, 2021, the company has 22,620,135 shares outstanding and 2,294 shares in treasury.