Free issue of shares to the company itself
Toivo Group Plc, company release, 3 April 2024 at 4:05 p.m.
On the basis of the authorisation granted by the Annual General Meeting held on 12 April 2023, it was decided that a total of 220,000 new company shares are to be issued free of charge to the company itself. The new shares are of the same class as the company's other shares.
The share issue is in preparation for the needs of the company management's share-based incentive system.
The new shares are estimated to be entered in the trade register by 15 April 2024, after which the company will immediately apply for the shares to be admitted to public trading on the Nasdaq First North Growth Market Finland marketplace.
Following the registration of the new shares, the total number of the company's shares will be 58,759,559, of which 440,000 are held by the company as its own shares, representing a total of approximately 0.7 per cent of the company’s total number of shares.
Toivo Group Plc
Further information
Markus Myllymäki
CEO
Toivo Group Plc
Tel. +358 (0)40 847 6206
Certified Adviser: Nordic Certified Advisor
About Toivo
Toivo is a Finnish real estate company that was founded in 2015. Its business consists of project development and long-term ownership of apartments. The Company’s business model is unique as Toivo’s business combines the value chain of real estate business from development and construction to ownership, management and rental of a completed property. Toivo manages the entire life cycle of properties with its own team, from raw land development to tenancy agreement negotiations and property maintenance. This way Toivo is able to generate additional value to its customers, shareholders and stakeholders.
Toivo’s strategy is to develop properties in accordance with the Toivo concept. The properties aim for a strong development margin and a stable and attractive return, and in this way enable long-term ownership and the generation of higher additional value to Toivo’s customers. Toivo has a knowledgeable and experienced team of experts with strong merits in the real estate business. The members of Toivo’s team have been involved in the development and construction of over 17,000 apartments, and they have an average of ten years of experience in the real estate business.
Toivo’s revenue in 2023 was EUR 43.7 million and its operating profit was EUR -0.3 million.
