CITYCON OYJ Inside Information 13 May 2025 at 21:20 hrs
Citycon considers the possibility of repurchasing its own shares based on the existing authorization granted by the Company’s Annual General Meeting on 3 April 2025. The Company is evaluating the use of a portion of the operational cash flow and part of proceeds from the divestments executed in 2024 to fund the share repurchase. The Company’s management believes that the current share price does not fully reflect the underlying value of the Company's assets and considers share repurchases an attractive investment opportunity.
The preliminary size of the repurchase of own shares is planned to be 12 million shares at maximum and the price EUR 3.80 per share subject to adjustments by the Company’s Board of Directors in its absolute discretion. The repurchase is planned to be commenced during the second quarter 2025.
Based on the existing authorization, the Board of Directors can decide on the repurchase of a maximum of 30 million shares, which corresponds approximately 16.28 per cent of all registered shares in the Company. Own shares can be repurchased at a price formed in public trading on the date of the repurchase or otherwise at a market-based price.
The Company's Board of Directors will separately resolve on the commencement, structure and other detailed terms and conditions of the contemplated share repurchase at a later date and will publish a stock exchange release on the matter in due course.
CITYCON OYJ
For further information, please contact:
Eero Sihvonen
Chief Financial Officer
Contact requests through:
Anni Torkko
Investor Relations Manager
Tel. +358 45 358 0570
anni.torkko@citycon.com
Citycon is a leading owner, manager and developer of mixed-use real estate featuring modern, necessity-based retail with residential, office and municipal service spaces that enhance the communities in which they operate. Citycon is committed to sustainable property management in the Nordic region with assets that total approximately EUR 3.8 billion. Our centres are located in urban hubs in the heart of vibrant communities with direct connections to public transport and anchored by grocery, healthcare and other services that cater to the everyday needs of customers.
Citycon’s shares are listed on Nasdaq Helsinki Ltd.