Citycon Oyj’s 2011 option rights entitle their holders to subscribe for a maximum of 8,529,625 new or existing shares in the company by 31 March 2018, at the latest. The Board of Directors of Citycon has decided that existing shares held by the company shall be issued based on the share subscriptions. At the date of this release, Citycon does not own any of its own shares wherefore the Board of Directors of Citycon has decided to repurchase the company’s own shares to implement the 2011 option program.
Based on the decision of the Board of Directors, Citycon shall repurchase, always subject to a valid authorization granted by the General Meeting of the company, in several separate transactions, a number of the company’s own shares equivalent to the number of shares subscribed for on the basis of the 2011 option rights at each time, equaling in total a maximum of 8,529,625 shares. This corresponds to approximately 1.9 per cent of all the shares of the company at the date of this release should all the option rights be exercised for share subscription. Shares can be repurchased until 20 April 2018 based on the share subscriptions received at each time, always subject to a valid authorization granted by the General Meeting of the company.
The shares shall be repurchased with the company's unrestricted equity otherwise than in proportion to the shares owned by the shareholders of the company (directed repurchase of shares) through public trading organized by NASDAQ OMX Helsinki Ltd at a price that has been formed for the shares in public trading on the date of repurchase. The shares will be repurchased and paid for and information about the share repurchases will be disclosed in accordance with the rules and guidelines of NASDAQ OMX Helsinki Ltd.
The repurchased shares shall be transferred to the option holders who have subscribed for shares at each time and will entitle to dividend and other shareholder rights once registered to the book-entry account of the relevant option holder. The share subscription price received at each time will be recognized in the company’s invested unrestricted equity fund.
The terms and conditions of the 2011 option rights are available on Citycon’s website www.citycon.com/options.
Helsinki, 23 April 2014
CITYCON OYJ
Board of Directors
For further information, please contact:
Marcel Kokkeel, CEO
Tel. +358 20 766 4521 or +358 40 154 6760
marcel.kokkeel@citycon.com
Eero Sihvonen, Executive Vice President and CFO
Tel. +358 20 766 4459 or +358 50 557 9137
eero.sihvonen@citycon.com
Distribution:
NASDAQ OMX Helsinki
Major media
www.citycon.com
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