United Bankers Oyj commences an Equity Buyback Plan for 150,000 shares, representing 1.44% of its issued share capital, under the authorization approved on March 23, 2022.
March 24, 2022 at 12:30 pm EDT
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United Bankers Oyj (HLSE:UNITED) commences share repurchases on March 24, 2022, under the program mandated by the shareholders in the Annual General Meeting held on March 23, 2022. As per the mandate, the company is authorized to repurchase up to 150,000 shares, representing 1.44% of its issued share capital. The repurchases will be funded from the company's unrestricted equity. The purpose of the program is to develop the company's capital structure, possible acquisitions, to finance investments or other business arrangements or to implement or use in the company's incentive or reward schemes or otherwise for further assignment or cancellation. The authorization is valid until the end of the next Annual General Meeting, however, not later than June 30, 2023. As of March 23, 2022, the company had a total 10,441,909 shares in issue of which 50,708 shares were in treasury.
On March 23, 2022, the company announced a share repurchase program. Under the program, the company will repurchase 25,000 of its own shares, representing approximately 0.24% of the share capital, for a value not exceeding €0.43 million. In addition, the continuation of the repurchase of own shares after June 30, 2022, requires that the Financial Supervision Authority has issued a new permit for the repurchase of own shares. The repurchase will start no earlier than March 24, 2022, and end no later than the day before the Annual General Meeting of 2023, however no later than June 30, 2023.
United Bankers Oyj (UNIAV) is a Finland-based company providing investment products and services. It offers a range of financial solutions, fund management, investment banking, securities brokerage, business and structured investment loans, advisory, as well as real estate investment. The United Bankers Oyj operates a parent of the United Bankers group, which consists of six companies: UB Omaisuudenhoito Oy, providing asset management products and services; UB Rahastoyhtio Oy, engaged in fund management; UB Securities Oy, providing brokerage; UB Capital Oy, engaged in investment banking; UB Nordic Forest Management Oy, investing in forest property; and UB Real Asset Management Oy, specialized in real estate investments.
United Bankers Oyj commences an Equity Buyback Plan for 150,000 shares, representing 1.44% of its issued share capital, under the authorization approved on March 23, 2022.
UNITED BANKERS OYJ 
