SCANFIL PLC STOCK EXCHANGE RELEASE 24 APRIL 2020 9.45 A.M.
SCANFIL CONTINUES TO REPURCHASE OWN SHARES
Scanfil Oyj’s Board of Directors has today, on 24 April 2020 decided to continue to repurchase the Company’s own shares based on the authorization given by the Annual General Meeting held on 23 April 2020. The repurchases are part of the share repurchase program initiated on 9 March 2020.
Based on the decision made by the Board of Directors, the repurchasing of shares will end by the next Annual General Meeting at the latest, however no later than 30 June 2021. As part of the share repurchase
program a total of 145,309 shares can still be repurchased. The maximum amount of euros to be used for the repurchase is total EUR 1.4 million. The shares will be repurchased in public trading on the Nasdaq Helsinki Ltd at the market price prevailing at the time of repurchase. The shares repurchased will be used to fulfil obligations related to the company’s option plans for the company key personnel.
On 9 March 2020 the Board of Directors decided to utilize the authorization given by the Annual General Meeting held on 24 April 2019 to repurchase own shares. The amount of shares to be acquired through the program was not to exceed 300,000 shares, corresponding to about 0.5% of the total number of shares. According to the Board’s decision, a maximum of EUR 1.4 million will be used to repurchase shares. A total of 154,691 own shares were acquired during 9 March 2020 and 22 April 2020.
On 23 April 2020, Company owns 454,691 its own shares, representing 0.7% of all shares.
CEO Petteri Jokitalo
Tel +358 8 4882 111
Distribution NASDAQ OMX, Helsinki
Scanfil is an international contract manufacturer and system supplier for the electronics industry with 40 years of experience in demanding contract manufacturing. Scanfil provides its customers with an extensive array of services, ranging from product design to product manufacturing, material procurement and logistics solutions. Vertically integrated production and a comprehensive supply chain are the foundation of Scanfil’s competitive advantages: speed, flexibility and reliability.
Typical Scanfil products include mobile and communications network devices, automation system modules, frequency converters, lift control systems, analysers, various slot and vending machines, and devices related to medical technology and meteorology. Scanfil services are used by numerous international automation, energy, IT and health service providers, as well as companies operating in the field of urbanisation. Scanfil’s network of factories consists of 11 production units in Europe, Asia and North America. The total number of employees is about 3,500.