Sampo Oyj announces an Equity Buyback for 50,000,000 shares, representing 9% of its issued share capital, under the authorization approved on May 18, 2022.
June 13, 2022 at 06:30 am
Sampo Oyj (HLSE:SAMPO) commences a share repurchases on June 10, 2022, 2021, under the program mandated by the shareholders in the Annual General Meeting held on May 18, 2022. As per the mandate, the company is authorized to repurchase up to 50,000,000 class A shares, representing 9% of its issued share capital. The maximum purchase price per share shall be no more than the highest price paid for the company's shares in public trading on the day of the repurchase or alternatively the average of the share prices (volume weighted average price on the regulated markets where the company's share is admitted to trading) during the five trading days preceding the repurchase. The minimum purchase price per share shall be the price that is 20% lower than the lowest price paid for the company's shares in public trading during the validity of this authorization. The repurchased shares will be cancelled. The authorization will be valid until the close of the next Annual General Meeting, provided this is not more than 18 months. As of February 21, 2022, the company had a total of 555,351,850 shares out of which 554,151,850 A shares and 1,200,000 B shares.
On June 9, 2022, the company announced a share repurchase program. Under the program, the company will repurchase up to 30,000,000 A shares, representing 5.6% of its share capital, for 1,000 million. The program will commence on June 10, 2022, at the earliest and end by February 8, 2023.