Kesko Oyj : Corporation’s share buy-back programme has ended
May 21, 2018 at 03:35 am
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On 24 April 2018, the Board of Directors of Kesko Corporation decided to use the authorisation granted by the General Meeting of 11 April 2018 to acquire B series shares in Kesko Corporation, and established a share buy-back programme for the purpose.
Kesko Corporation has now completed the share buy-back programme. The acquisitions of the shares began on 26 April 2018 and ended on 18 May 2018. During that time, Kesko acquired 500,000 of its own B series shares for an average price per share of €48.83. The shares acquired will be used to fulfil obligations related to the Company's share-based commitment and incentive plans. Following the acquisitions, Kesko owns a total of 996,325 of its own B shares, which represents approximately 1.00 per cent of all shares in Kesko Corporation and 1.46 per cent of Kesko Corporation's B series shares.
The shares were acquired at the market price quoted at the time of acquisition in trading organised by Nasdaq Helsinki Ltd on a regulated market. Danske Bank A/S, Finland Branch acted as broker in the acquisition of the shares.
Further informationis available from Mika Majoinen, EVP, Group General Counsel, tel. +358 105 322 206.
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Nasdaq Helsinki Ltd
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www.kesko.fi
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Kesko Oyj published this content on 21 May 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 21 May 2018 07:34:02 UTC
Kesko Oyj is the leading wholesaler and retailer in Finland. Net sales break down by family of products as follows:
- grocery and convenience goods (53.8%; K-retailer; No. 2 in Finland): owned 1,208 supermarkets and stores under the names K-citymarket, K-supermarket, K-Market, Neste K., etc.;
- building, home improvement, DIY and gardening products (35.6%): building materials, interior design materials, gardening products, household appliances, furniture, etc. distributed via 483 outlets primarily under the Onninen, K-rauta, K-Bygg, Byggmakker, Byggarnas Partner and Carlsen Fritzøe brands;
- automotive (10.6%; K-Auto): cars (Volkswagen, Audi, Seat, CUPRA, Porsche, Bentley and MAN brands), spare parts and original accessories marketed through 49 outlets in Finland. The group also offers leisure and sports goods (owned 62 stores under the Intersport and Budget Sport names).
Net sales are distributed geographically as follows: Finland (82.4%), Nordic countries (13.7%), Baltic countries (1.1%) and other (2.8%).