Citycon Oyj to start repurchasing own shares in a share buy-back programme

Stock exchange releases - 17 December 2021

CITYCON OYJ   Stock Exchange Release   17 December 2021 at 19:10 hrs

The Board of Directors of Citycon Oyj (“Citycon” or the “Company”) has decided to initiate a share buy-back programme and to start repurchasing the Company’s own shares (ISIN code FI4000369947) on the basis of the authorisation given by the Annual General Meeting of Citycon on 22 March 2021. The shares shall be repurchased to distribute surplus funds received from the divestment of necessity-based retail centre Columbus to the shareholders of Citycon and to be used as a part of share-based incentive plans of Citycon.

The maximum number of shares to be repurchased is 500,000 and the maximum amount to be used for the repurchases is EUR 3.75 million. The shares shall be repurchased in public trading on Nasdaq Helsinki Ltd in one or several instalments at the market price prevailing at the time of purchase. The shares acquired under the programme will be repurchased otherwise than in proportion to the existing shareholdings of the Company’s shareholders (directed repurchase). The share repurchases shall start on 20 December 2021 at the earliest and end by 20 March 2022 at the latest. The purchase price shall be paid in its entirety from the unrestricted equity of the Company and the repurchase of own shares will consequently reduce the Company’s unrestricted equity and be recorded as a deduction of retained earnings. The repurchase price of the shares will be paid against delivery of the repurchased shares and the share trades shall be settled in accordance with the standard settlement timetable set forth in the trading rules of Nasdaq Helsinki Ltd.

The Board of Directors decided that 10,415 repurchased shares will be held by the Company and paid to the key employees in accordance with the Company’s share-based incentive plans and the rest of the repurchased shares, i.e., 489,585 Citycon shares, will be cancelled after the Company’s announcement on the completion of the share buy-back programme.

The Annual General Meeting of Citycon held on 22 March 2021 authorised the Board of Directors to decide on the repurchase of a maximum of 10,000,000 of the Company’s own shares. Only the unrestricted equity of the Company can be used to repurchase own shares on the basis of the authorisation. On 25 November 2021, Citycon had successfully repurchased 9,500,000 own shares of the Company in a market based reverse accelerated bookbuild (the “Reverse ABB”) on the basis of the authorisation given by the Annual General Meeting of Citycon on 22 March 2021. Citycon cancelled the 9,500,000 own shares repurchased in the Reverse ABB on 30 November 2021. After the completion of the Reverse ABB, the remaining authorisation of the Board of Directors of Citycon to repurchase own shares was 500,000 shares.

Citycon has one series of shares in which each share carries one vote. The total number of shares and votes in Citycon is 168,498,525. At the moment, Citycon or its subsidiaries do not hold any shares in the Company.

CITYCON OYJ

For further information, please contact:
Laura Jauhiainen
Vice President, Strategy and Investor Relations
Tel. +358 40 725 7573
laura.jauhiainen@citycon.com

Citycon is a leading owner, manager and developer of mixed-use centres for urban living including retail, office space and housing. We are committed to sustainable property management in the Nordic region with assets that total approximately EUR 4.5 billion. Our centres are located in urban hubs with a direct connection to public transport. Placed in the heart of communities, our centres are anchored by groceries, healthcare and services to cater for the everyday needs of customers.

Citycon has investment-grade credit ratings from Moody's (Baa3), Fitch (BBB-) and Standard & Poor's (BBB-). Citycon’s share is listed on Nasdaq Helsinki Ltd.

www.citycon.com