Based on the decision of the Board of Directors of
The repurchased shares will be conveyed in several instalments to participants in the Company's Matching Share Plan 2018-2020, Matching Share Plan 2022-2024, Restricted Share Plan 2018-2020, Restricted Share Plan 2020-2022, Performance Share Plan 2020-2022, the CFO Restricted Share Plan 2021-2024 and the CEO Restricted Share Plan 2021-2025 in accordance with the terms and conditions of the said plans. The shares will be conveyed through a directed share issue without consideration to the participants who are, at each time, entitled to reward under the plans. The Company will also convey shares as severance payments in accordance with the respective termination agreements.
The shares are repurchased and issued in order to execute the Company's share-based incentive programmes and severance payments. There are thus weighty financial reasons for the repurchase and share issue. The shares payable as severance payments or as rewards for each performance period under share-based incentive plans will be repurchased during certain defined periods after the end of each vesting period as applicable or after the confirmation by the Board of Directors on the reward from each performance period as applicable, and conveyed to the participants in the plan on certain defined time after the end of each such repurchase period.
The shares will be repurchased otherwise than in proportion to shareholders' current holdings through public trading from
The shares to be conveyed in the share issue will entitle their holders to dividend and other shareholder rights when they have been registered in the book-entry accounts of the recipients.
Further details concerning the Company's Matching Share Plan 2018-2020, Matching Share Plan 2022-2024, Restricted Share Plan 2018-2020, Restricted Share Plan 2020-2022, Performance Share Plan 2020-2022, CFO Restricted Share Plan 2021-2024 and CEO Restricted Share Plan 2021-2025 are available in the Company's remuneration reports and stock exchange releases and on the Company's website.
For further information, please contact:
Sakari Järvelä
Vice President, Corporate Finance and Investor Relations
Tel. +358 50 387 8180
sakari.jarvela@citycon.com
www.citycon.com
https://news.cision.com/citycon-oyj/r/citycon-oyj-has-decided-to-repurchase-its-own-shares-and-to-issue-shares-for-the-implementation-of-s,c3529741
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