SRV GROUP PLC STOCK EXCHANGE RELEASE 3 FEBRUARY 2022 8:35 EET
SRV Group Plc begins buyback of its own shares for share-based incentive schemes
SRV Group Plc’s Board of Directors has decided to use the buyback authorisation of SRV’s shares granted by the Annual General Meeting (AGM) on 29 March 2021. The buyback programme will be initiated at the earliest on 4 February 2022 and terminated once all the shares have been purchased. The number of shares to be acquired is a maximum of 3,900,000 shares, which represents approximately 1.5 per cent of all SRV shares. The acquired shares will be used to implement the company’s share-based incentive programmes.
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 March 2021 authorised the Board of Directors to decide on the repurchase of a maximum of 26,000,000 shares in one or more lots. The maximum authorised number of shares represents approximately 10 per cent of the company’s entire share capital. Shares may be acquired inter alia for use as payment in corporate acquisitions, when the company acquires assets relating to its business, as part of the company’s incentive programmes, as a part of the management’s incentive scheme or to be otherwise conveyed, held or cancelled. The authorisation is valid until the following AGM, but not later than 30 June 2022.
The total registered number of shares in SRV is 263,017,341. At the moment, SRV has 862,561 own shares.
For further information, please contact:
Anu Tuomola, General Counsel, tel. +358 (0)50 4143 280, firstname.lastname@example.org
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SRV in brief
SRV is a Finnish developer and innovator in the construction industry. We are building a more sustainable and responsible urban environment that fosters economic value and takes into consideration the wellbeing of both the environment and people. We call this approach lifecycle wisdom. Our genuine engagement and enthusiasm for our work comes across in every encounter – and listening is one of our most important ways of working. We believe that the only way to change the world is through discussion.
Our company, established in 1987, is listed on the Helsinki Stock Exchange. We operate in growth centres in both Finland and Russia. In 2021, our revenue totalled EUR 932.6 million. In addition to about 1,000 SRV employees, we have a network of around 3,600 partners.
SRV – Building for life