Nonwovens / Technical Textiles

2021-11-01

Suominen to start the repurchase of its own shares

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 companyâ€™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 companyâ€™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 shareholdersâ€™ current holdings?using the companyâ€™s non-restricted shareholdersâ€™ 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 Suominenâ€™s own shares. The authorization is valid until June 30, 2022.

At the moment Suominen holds 634,661 own shares.