Nokia launches first phase of share buyback program
18 3월 2024 - 11:30PM
Nokia launches first phase of share buyback program
Nokia CorporationStock Exchange Release18 March 2024 at 16:30
EET
Nokia launches first phase of share buyback
programEspoo, Finland – In line with the share buyback
program announced on 25 January 2024, Nokia Corporation ("Nokia" or
the "Company") has today decided to launch the first phase of the
share buyback program.The main terms of the first phase of the
share buyback program:
- The aggregate
purchase price of all Nokia shares to be acquired shall not exceed
EUR 300 million.
- The repurchases will
start at the earliest on 20 March 2024 and end by 18 December
2024.
- 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 on 4 April 2023. The maximum number of shares that can be
repurchased under the first phase of the program is 200 million
shares corresponding to approximately 4 % of the total number of
shares in Nokia.
- The shares will be
acquired through public trading on the regulated market of Nasdaq
Helsinki and select 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 first phase of the
buyback program. The lead-manager will make trading decisions
independently of and without influence from Nokia. 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.
Nokia may terminate the program prior to its scheduled end date
and will in such case issue a stock exchange release to this
effect.
About NokiaAt Nokia, we create technology that
helps the world act together.
As a B2B technology innovation leader, we are pioneering
networks that sense, think and act by leveraging our work across
mobile, fixed and cloud networks. In addition, we create value with
intellectual property and long-term research, led by the
award-winning Nokia Bell Labs.
Service providers, enterprises and partners worldwide trust
Nokia to deliver secure, reliable and sustainable networks today –
and work with us to create the digital services and applications of
the future.
Inquiries:
Nokia CommunicationsPhone: +358 10 448 4900Email:
press.services@nokia.comKaisa Antikainen, Communications
Manager
NokiaInvestor RelationsPhone: +358 40 803 4080Email:
investor.relations@nokia.com
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