Toivo Group Plc’s share issue without consideration to the company itself
Toivo Group Plc, company release, 12 April 2023 at 3:00 p.m. EET
Based on the share issue authorisation granted by the Annual General Meeting held on 12 April 2023, the Board of Directors of Toivo Group Plc (the “Company” or “Toivo”) resolved on an issue of 220 000 new shares in the Company to the Company itself without consideration. The new shares are of the same class as the Company’s other shares.
Through the share issue the Company prepares for the needs of the share-based incentive plan for the management of the Company.
The new shares will be entered in the Finnish Trade Register approximately by 30 April 2023, after which the Company will immediately apply for the shares to be admitted to public trading on Nasdaq First North Growth Market Finland marketplace.
After the registration of the new shares, the total number of shares in the Company is 55 206 226 of which 220 000 shares are held by the Company as treasury shares representing approximately 0,4 per cent of all the shares in the Company.
Board of Directors
Further information
Markus Myllymäki
CEO
Toivo Group Plc
Tel. +358 (0)40 847 6206
Certified Adviser: Danske Bank A/S, Finland branch, +358 (0)50 575 4422
About Toivo
Toivo is a Finnish real estate company that was founded in 2015. Its business focuses on project development and the long-term ownership of apartments. The company’s business model is unique as it 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 for its customers, shareholders and stakeholders.
Toivo’s strategy is to develop properties in accordance with the Toivo concept. The aim is to generate 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 for Toivo’s customers. Toivo has a knowledgeable and experienced team of experts with strong backgrounds 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 2022 was EUR 20.3 million and its operating profit was EUR 15.6 million.
