Enento Group Oyj commences an Equity Buyback Plan for 1,500,000 shares, representing 6.32% of its issued share capital, under the authorization approved on March 25, 2024.
April 25, 2024 at 11:30 am EDT
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Enento Group Oyj (HLSE:ENENTO) commences share repurchases on April 25, 2024, under the program mandated by the shareholders in the Annual General Meeting held on March 25, 2024. As per the mandate, the company is authorized to repurchase up to 1,500,000 shares, representing 6.3% of the issued and outstanding share capital. The shares will be repurchased at a price equal to the market price of the shares quoted on the trading venues where the company?s shares are traded or at the price otherwise established on the market terms at the time of the repurchase. The program will be funded using the company?s invested unrestricted shareholders? equity, and thus, the repurchases will reduce funds available for distribution. The shares may be used for developing the company?s capital structure; for financing or carrying out potential corporate acquisitions or other business arrangements; or can be used as a part of the company?s remuneration or incentive plans; or maybe transferred further; retained by the company as treasury shares; or cancelled. The authorization shall be valid for 18 months from the passing of this resolution i.e., until September 25, 2025. As of February 19, 2024, the company had 23,738,445 issued and outstanding shares.
On April 23, 2024, the company announces a share repurchase program. Under the program, the company will repurchase up to 100,000 shares, representing approximately 0.42% of its issued share capital for a total of ?2 million. The purpose of the program is to optimize the capital structure of the company through reduction of capital. The repurchased shares will be cancelled. The repurchases will commence on April 25, 2024, and the program will expire on July 15, 2024.
Enento Group Oyj, formerly Asiakastieto Group Oyj is a Finland-based company engaged in the provision of information services. It provides corporate, risk management, and sales and marketing information in Finland, as well as electronic and Website services and company and personal information services accessible to all. It maintains a private company information database of Finnish enterprises and their key individuals. The Group serves both consumers and several industries. The Company operates in Finland under the brands Asiakastieto and Emaileri, in Sweden under the brand UC, Proff and Allabolag and in Norway and Denmark under the brand Proff.
Enento Group Oyj commences an Equity Buyback Plan for 1,500,000 shares, representing 6.32% of its issued share capital, under the authorization approved on March 25, 2024.
ENENTO GROUP OYJ 
