Digia begins share buyback program
Digia's Board of Directors has decided to initiate a share buyback program for the company's own shares. The shares will be used to fund acquisitions and implement share-based incentive schemes.
Digia Plc has launched a share buyback program aimed at acquiring up to 300,000 of the company's own shares. The total value allocated for the program is a maximum of EUR 2.4 million.
The share acquisition commenced on December 16, 2021, and is scheduled to conclude by the end of May 2022. These repurchases, intended for financing acquisitions and executing stock-based incentive plans, will be conducted on Nasdaq Helsinki in accordance with EU Market Abuse Regulation (MAR) 'safe harbour' rules.
The authorisation for the share buyback was granted to Digia's Board of Directors by the Annual General Meeting held on March 17, 2021. The maximum number of shares to be acquired, 300,000, represents approximately 1.1 percent of the company's total outstanding shares. Digia currently holds 26,823,723 shares and has 57,372 treasury shares.
OP Corporate Bank has been appointed to manage the buyback program. The price paid for the shares will be based on the prevailing market price at the time of purchase, adhering to established price and volume limits. Digia reserves the right to suspend or terminate the program before its scheduled end date.