Oma Savings Bank Plc shall start to acquire the Company’s own shares
OMA SAVINGS BANK PLC, STOCK EXCHANGE RELEASE 27 SEPTEMBER 2023 AT 13.00 P.M. EET, OTHER INFORMATION DISCLOSED ACCORDING TO THE RULES OF THE EXCHANGE
Oma Savings Bank Plc shall start to acquire the Company’s own shares
Oma Savings Bank Plc has decided to commence a repurchase programme related to the acquisition of the Company's own shares on the basis of the authorisation given by the Annual General Meeting on 30 March 2023. The maximum number of shares to be acquired in one or more tranches is 100,000, which corresponds to approximately 0.3 percent of the Company's shares and votes. The Company's total number of shares is 33,275,237. The Company currently holds 101,386 of the Company's own shares. The permission of the acquisition of own shares has been obtained by the Finnish Financial Supervisory Authority (FIN-FSA).
The acquisition of own shares shall start on 27 September 2023 at the earliest, and end on 30 March 2024 at the latest. The shares shall be acquired through public trading organized by Nasdaq Helsinki Ltd at market price prevailing at the time of purchase. There is a weighty financial reason for the directed acquisition of own shares as they are acquired in relation to the implementation of a share-based incentive scheme for key personnel.
The Annual General Meeting authorised on 30 March 2023, the Board of Directors to decide on the acquisition of up to 1,000,000 Oma Savings Bank Plc’s own shares with funds belonging to the Company's free equity, representing approximately 3 percent of the Company's total shares according to the situation on the date of the meeting, however, that the number of own shares held by the Company does not exceed 10 percent of the Company’s total shares of the Company at any time. This amount includes the own shares held by the Company itself and its subsidiaries within the meaning of Chapter 15, Section 11 (1) of the Finnish Companies Act. The authorisation is valid until the closing of the next Annual General Meeting, but not later than 30 June 2024.
Oma Savings Bank Plc
Further information:
Sarianna Liiri, CFO, tel. +358 40 835 6712, [email protected]
Minna Sillanpää, CCO, tel. +358 50 66592, [email protected]
Distribution:
Nasdaq Helsinki Ltd
Major media
www.omasp.fi
OmaSp is a growing Finnish bank and the largest savings bank in Finland based on total assets. About 500 professionals provide nationwide services through OmaSp’s 45 branch offices and digital service channels to over 200,000 private and corporate customers. OmaSp focuses primarily on retail banking operations and provides its clients with a broad range of banking services both through its own balance sheet as well as by acting as an intermediary for its partners’ products. The intermediated products include credit, investment and loan insurance products. OmaSp is also engaged in mortgage banking operations.
OmaSp core idea is to provide personal service and to be local and close to its customers, both in digital and traditional channels. OmaSp strives to offer premium level customer experience through personal service and easy accessibility. In addition, the development of the operations and services is customer-oriented. The personnel is committed and OmaSp seeks to support their career development with versatile tasks and con-tinuous development. A substantial part of the personnel also own shares in OmaSp.
