Kesko Oyj Receives Return of Treasury Shares
Kesko Corporation has received 1,524 of its own B shares back as part of its employee incentive program. The number of treasury shares held by the company has increased as a result.
Helsinki, Finland – September 17, 2021 – Kesko Oyj, a retail company, announced today that it has received 1,524 of its own B shares back without consideration. The return of these shares is in accordance with the terms of Kesko's share-based commitment and incentive plan, active from 2018 to 2021.
The shares had initially been granted to an individual participating in the 2018 performance period of the plan. Following this return, Kesko now holds a total of 2,964,360 of its own B shares as treasury shares.
This transaction is not expected to have a significant impact on the company's financial standing. Treasury shares are typically managed by companies for strategic purposes, such as employee compensation or potential corporate transactions.
Matti Mettälä, Executive Vice President responsible for financial reporting and share-related matters, confirmed the details. Kesko is expected to continue managing its share-based programs according to their established terms.