Tieto to Repurchase Own Shares for Employee Incentive Programs
Tieto Oyj's Board of Directors has decided to initiate a share repurchase program of the company's own shares for its employee incentive schemes. The repurchases are expected to begin after the completion of the ongoing buyback program.
Tieto Oyj will commence repurchasing its own shares to be used in the company's share-based incentive programs for key personnel. The decision was made by the company's Board of Directors, utilizing an authorization granted by the Annual General Meeting.
The company cited a significant financial reason for acquiring its own shares. These shares are designated for long-term incentives and retention of key employees.
Share repurchases are scheduled to begin no earlier than upon the completion of the company's ongoing share buyback program, which has a total value of up to EUR 150 million. The precise timing will be contingent on the conclusion of the current program.