Tamtron Group Plc | Company Release | October 21, 2024 at 13:00:00 EEST
Based of the authorisation given by the Annual General Meeting on 11 April 2024, the Board of Directors of Tamtron Group Plc has decided to start a share buyback programme. The Annual General meeting that was held on 11 April 2024 authorized Board of Directors to decide on the repurchase of at maximum 4.8 percent of Company’s all shares. The authorization is in force until 10 October 2025.
The shares will be repurchased by using the unrestricted equity of the Company, thus reducing the Company’s distributable unrestricted equity. A compelling purpose of the Company’s share buyback is to develop the Company’s capital structure and use of shares as a part of share-based incentive schemes, acquisitions or other similar purposes determined on by the Board of Directors.
The maximum number of shares to be repurchased by virtue the buyback programme is 30,000 shares which corresponds to approximately 0.4 percent of the company’s shares. However, the amount used for repurchasing shares will be EUR 200,000 at the highest. The shares will be acquired by public trading at the market price at the time of acquisition on Nasdaq First North Growth Market Finland marketplace maintained by Nasdaq Helsinki Ltd. The share buyback programme will commence on 21 October 2024 at the earliest and end on 31 December 2024 at the latest.
Tamtron Group Plc has engaged an external broker, Nordea Bank Oyj Abp, to implement the share buyback programme, and broker will have full discretion to decide on the acquisition of shares based on irrevocable instructions, including the timing of the acquisitions, and subject to applicable price and volume restrictions and applicable terms and conditions.
Tamtron Group Plc has a total of 7,293,376 shares and before the start of the buyback programme the Company doesn’t hold its own shares.
Further enquiries
Mikko Keskinen, CEO, Tamtron Group Plc
+358 40 596 4831
mikko.keskinen@tamtron.com
Certified advisor, Translink Corporate Finance Oy
Tel. +358 40 091 8855
jari.lauriala@translinkcf.fi