YIT starts repurchasing own shares for its incentive programmes
The Board of Directors of YIT Corporation has passed a resolution to start repurchasing the company’s own shares on the basis of the authorisation given by the Annual General Meeting on 12 March 2019. The shares shall be repurchased to be used as a part of the company’s incentive programmes. The maximum number of shares to be acquired is 1,500,000, corresponding to 0,71% of the total number of shares. The maximum sum to be used for the repurchase is EUR 9 million. The shares shall be acquired in public trading on Nasdaq Helsinki Ltd. at the market price prevailing at the time of purchase. The share repurchase shall start on 26 July 2019 at the earliest, and end by 30 September 2019, at the latest.
The AGM held on 12 March 2019 authorised the Board of Directors to decide on the repurchase a maximum of 21,000,000 of the company’s own shares (approx. 10 % of all shares of the company). Own shares shall be repurchased with funds from the company’s unrestricted shareholders’ equity.
The total number of shares in YIT Corporation is 211,099,853. At the moment, YIT Corporation has 872,504 own shares.
For further information, please contact:
Ilkka Salonen, CFO, YIT Corporation, tel. +358 45 359 4434 , email@example.com
Vice President, Investor Relations
Distribution: Nasdaq Helsinki, major media, www.yitgroup.com
YIT is the largest Finnish and significant North European construction company. We develop and build apartments and living services, business premises and entire areas. We are also specialised in demanding infrastructure construction and paving. Together with our customers, our nearly 10,000 professionals are creating more functional, more attractive and more sustainable cities and environments. We work in 11 countries: Finland, Russia, Scandinavia, the Baltic States, the Czech Republic, Slovakia and Poland. The new YIT was born when over 100-year-old YIT Corporation and Lemminkäinen Corporation merged on February 1, 2018. Our restated pro forma revenue for 2018 was approximately EUR 3.2 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com