Alma Media begins buyback of its own shares for share-based incentive scheme

Alma Media Corporation  Stock exchange release                 29 April 2020   at 4:30 p.m.

ALMA MEDIA BEGINS BUYBACK OF ITS OWN SHARES FOR SHARE-BASED INCENTIVE SCHEME

Alma Media Corporation’s Board of Directors has decided to use the buyback authorisation of Alma Media’s shares granted by the Annual General Meeting on 29 April 2020. The buyback programme will be initiated at the earliest on 4 May 2020 and terminated on 16 June 2020 at the latest. The number of shares to be acquired is a maximum of 90,000 shares, which represents approximately 0.1 per cent of all Alma Media shares. The acquired shares will be used to implement the company’s share-based incentive programme.

The company’s own shares shall be acquired using the company’s non-restricted shareholders’ equity at the market price valid at the time of purchase of the shares through trading in a regulated market arranged by NASDAQ Helsinki Oy, and the shares are purchased otherwise than in proportion to shareholders’ current holdings. The shares are acquired and paid for according to the rules and instructions of NASDAQ Helsinki Oy and Euroclear Finland Ltd.

The AGM of 29 April 2020 authorised the Board of Directors to decide on the repurchase of a maximum of 824,000 shares in one or more lots. The maximum authorised number of shares represents approximately one (1) per cent of the company’s entire share capital. Shares can be purchased for the purpose of improving the company’s capital structure, financing or carrying out corporate acquisitions or other arrangements, implementing incentive schemes for the management or key employees or to be otherwise transferred or cancelled. The authorisation is valid until the following AGM, but not later than 30 June 2020.

The total registered number of shares in Alma Media is 82,383,182. At the moment, Alma Media has 31,011 own shares.

For more information, please contact: Mikko Korttila, General Counsel, Alma Media Corporation, tel. +358 10 665 2201

ALMA MEDIA CORPORATION
Elina Kukkonen
SVP, Communications

DISTRIBUTION: NASDAQ Helsinki, key media, www.almamedia.fi

Alma Media in brief

Alma Media is a dynamic digital service business and media company with a strong capacity for renewal. The company’s best-known brands are Kauppalehti, Talouselämä, Iltalehti, Aamulehti, Etuovi.com and Monster. Alma Media builds sustainable growth expanding its offering from media to related digital services fulfilling the needs of users’ everyday life as consumers and as professionals in business. Alma Media operates in 11 countries in Europe. Alma Media employs approximately 1,800 professionals. Alma Media’s revenue from continuing operations was EUR 250.2 million in 2019. Alma Media’s share is listed on NASDAQ Helsinki. Read more at www.almamedia.com 

Share article