Stock Exchange Release
Espoo,
The main terms of the second phase of the share buyback program:
- The aggregate purchase price of all
Nokia shares to be acquired shall not exceedEUR 300 million . - The repurchases will start at the earliest on
2 January 2023 and end at the latest by21 December 2023 . - The purpose of the repurchases is to optimize
Nokia 's capital structure through the reduction of capital. The repurchased shares will be cancelled accordingly. The repurchases will be funded using funds in the reserve for invested unrestricted equity and the repurchases will reduce total unrestricted equity. - The repurchases are based on the authorization granted by
Nokia 's Annual General Meeting on5 April 2022 . The maximum number of shares that can be repurchased under the second phase of the program is 275 000 000 shares corresponding to approximately 5% of the total number of shares inNokia . - The shares will be acquired through public trading on the regulated market of Nasdaq Helsinki and selected multilateral trading facilities. No repurchases will be made in
the United States .Nokia has appointed a third-party broker as the lead-manager for the second phase of the buyback program. The lead-manager will make trading decisions independently of and without influence fromNokia . The repurchases will be carried out in accordance with the so-called safe harbour rules referred to in Article 5 of the EU Market Abuse Regulation (EU N:o 596/2014). - The price payable per share shall be determined in public trading on the relevant trading venue at the time of the repurchase, in compliance with the price and volume limits applicable under the safe harbour rules.
Cancellation of treasury shares registered
The cancellation of the treasury shares was registered with the
The cancellation of the shares does not affect the Company’s share capital nor total equity.
After the cancellation, the total number of shares and votes in
Board of Directors
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Inquiries:
Investor Relations
Phone: +358 40 803 4080
Email: investor.relations@nokia.com
Source:
2022 GlobeNewswire, Inc., source