The Board of Directors of Finnair Plc has decided to utilise the authorisation given by the Annual General Meeting held on 25 March 2015 to repurchase the company’s shares.
The maximum number of shares to be acquired is 800,000 corresponding to about 0.62% of the total number of Finnair’s shares and votes. Finnair currently holds a total of 325,205 of own shares, corresponding to approximately 0.25% of the total number of the shares and votes.
The closing price of Finnair share on 17 December 2015 was EUR 4.98, at which 800,000 shares would cost approximately EUR 4.0 million.
The share repurchases will start on 28 December 2015 at the earliest, and will end no later than the last of May 2016. The shares shall be acquired through public trading on the Nasdaq Helsinki exchange at the market price prevailing at the time of repurchase.
Repurchased shares will be used primarily for implementation of Finnair’s Employee Share Savings Plan (FlyShare) and long-term share-based incentive scheme for key personnel. T
Finnair’s Board of Directors has an authorisation to acquire 5,000,000 of the company’s own shares, which is valid until 25 September 2016.