SCANFIL PLC STOCK EXCHANGE RELEASE 22 APRIL 2021 2.15 P.M.
Scanfil’s programme to repurchase its own shares has been completed on 22 April 2021. The shares were acquired at the market price quoted at the time of the repurchase in public trading on Nasdaq Helsinki Ltd. Own shares were used and will be used to fulfil obligations related to the option scheme to key personnel.
The share repurchase was based on an authorisation granted by the Annual General Meeting on 23 April 2020, that authorised the Board of Directors to decide on a repurchase of a maximum of 5,000,000 own shares. Based on the authorisation the Board of Directors decided on 24 April 2020 to continue a share repurchase programme started on 9 March 2020, on the basis of the authorisation granted by the Annual General Meeting on 24 April 2019. The Board of Directors’ decision on 24 April 2020 specified the programme to finish at the latest at the next Annual General Meeting. In the programme the number of repurchase shares was defined at the maximum of 300,000 shares, which accounted for approximately 0.5 % of all shares of the Company. The maximum amount of money used in the repurchase was EUR 1.4 million.
According to the programme own shares were repurchased in two periods: 9 March 2020 – 22 April 2020 (154,691 shares) and 24 April 2020 – 22 April 2021 (24,047 shares). In total, 178,738 own shares were acquired and EUR 705,776.08 was used in the programme.
After completing the programme Scanfil plc holds a total of 198,738 own shares which is equivalent to approximately 0.3 per cent of all shares of the Company.
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Scanfil is an international manufacturing partner and system supplier for the electronics industry with 40 years of experience in demanding 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 are modules or integrated products for e.g. self-service application, automation systems, wireless connectivity modules, climate control systems, collection and shorting systems, analysers and environmental measurement solutions. Scanfil services are used by numerous international automation, safety, energy, cleantech, connectivity and health service providers, as well as companies operating in the field of urbanisation. Scanfil’s network of factories consists of 10 production units in Europe, Asia and North America.