Ilkka Oyj commences an Equity Buyback Plan for 1,000,000 shares, representing 4% of its issued share capital, under the authorization approved on April 26, 2022.
December 02, 2022 at 10:30 pm IST
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Ilkka Oyj (HLSE:ILKKA2) commences share repurchases on December 2, 2022, under the program mandated by the shareholders in the Annual General Meeting held on April 26, 2022. As per the mandate, the company is authorized to repurchase up to 1,000,000 shares, representing 4% of its issued share capital. Shares can be acquired for the implementation of the company's incentive systems, otherwise they can be transferred or cancelled, to support the company's growth strategy or to be used in the company's possible mergers and acquisitions or other arrangements. The authorization is valid until the next annual general meeting, but no later than June 30, 2023.
On December 1, 2022, the company announced a share repurchase program. Under the program, the company will repurchase 120,000 shares, which corresponds to about 0.6% of the company's II series shares and a total of about 0.5% of all the company's shares, for 0.55 million worth of shares. The shares are acquired for use as part of the company's incentive system. The acquisition of shares will start at the earliest December 2, 2022, and ends when the necessary shares have been acquired.
Ilkka Yhtyma Oyj is a Finland-based company engaged in the provision of printing and publishing services. The Company operates through three segments: Publishing, Printing, and Associated companies. The Publishing segment comprises the activities of subsidiary I-Mediat Oy, responsible for publishing regional (Ilkka and Pohjalainen) and local newspapers (Viiskunta, Komiat, Jarviseutu, Suupohjan Sanomat and Jurvan Sanomat), as well as free sheets (Vaasan Ikkuna and Etela-Pohjanmaa). The segment also covers online and mobile services, as well as marketing and communications services, including influencer marketing portal somessa.com. The Printing segment comprises the activities of I-print Oy, which offers newspaper printing, as well as other digital and specialty printing products and services, including sheet printing, brochure folding, large format prints and label printing, among others. The Company also includes a property subsidiary, Kiinteisto Oy Seinjoen Koulukatu 10.
Ilkka Oyj commences an Equity Buyback Plan for 1,000,000 shares, representing 4% of its issued share capital, under the authorization approved on April 26, 2022.