The board of directors of Finnair Plc (HEX: FIA1S) has decided to repurchase up to 0.62 percent of the company´s shares.
The maximum number of shares to be acquired is 800,000. Finnair currently holds a total of 325,205 of own shares, corresponding to approximately 0.25 percent of the total number of the shares and votes.
The closing price of Finnair share on 17 December 2015 was EUR 4.98, at which 800,000 shares would cost approximately EUR 4.0 million.
The share repurchases will start on 28 December 2015 at the earliest, and will end no later than the last of May 2016. The shares shall be acquired through public trading on the Nasdaq Helsinki exchange at the market price prevailing at the time of repurchase.
Repurchased shares will be used primarily for implementation of Finnair´s Employee Share Savings Plan (FlyShare) and long-term share-based incentive scheme for key personnel. The terms of the share plan and incentive scheme can be viewed on Finnair´s website at www.finnairgroup.com under section Governance/Remuneration.
Based in Helsinki, Finland, Finnair is a network airline specialising in passenger and cargo traffic between Asia and Europe. In 2014, its revenues amounted to EUR 2,400 million and it had a personnel of almost 4,500 at the year-end.