HKScan Corporation Stock Exchange Release 25.9.2019, 8:30 (EET)
The Board of Directors of HKScan Corporation has in its meeting on 24 September 2019 decided to use the authorisation granted by the Annual General Meeting held on 11 April 2019 to acquire the Company's own shares.
The Board of Directors has decided to initiate a fixed-term share buy-back programme for the purpose of acquiring series A shares in the Company in order to meet the potential rewards arising from the share-based incentive scheme for key employees.
The share acquisitions will begin at the earliest on 1 October 2019 and will end at the latest on 30 June 2020. The maximum number of shares to be acquired is 2,000,000 series A shares, however up to an equivalent of EUR 5,000,000. The maximum number of series A shares to bought back under the programme corresponds to approximately 2.02 per cent. of the total number of shares in the company and 2.13 per cent. of the total number of series A shares. The shares will be acquired at the market price quoted in trading organised by Nasdaq Helsinki Ltd on a regulated market at the time of acquisition. The shares will be acquired with the Company's distributable non-restricted equity.
Board of Directors
For more information please contact: HKScan Media Service Desk +358 10 570 5700 or by email to: email@example.com
HKScan is a Nordic meat and meals company. We employ nearly 7 200 professionals in striving to serve the world's most demanding consumers, maintaining quality throughout the full chain of operations, From Farm to Fork. HKScan produces, markets and sells high-quality, sustainably produced pork, beef, poultry and lamb products, as well as charcuterie and meals, with strong consumer brands, including HK®, Scan®, Rakvere®, Kariniemen®, Rose®, Pärsons® ja Tallegg®. Our customers are the retail, food service, industrial and export sectors, and our home market comprises Finland, Sweden, Denmark and the Baltics. We export to close to 50 countries. In 2018, HKScan had net sales of EUR 1.7 billion.