Innofactor Plc Stock Exchange Release March 29, 2016, at 14:15 Finnish time
Innofactor Plc announced on August 25, 2015, that the Board of Directors had decided on a share repurchase of maximum 800,000 company’s own shares on the basis of authorization granted by the General Meeting on March 24, 2015.
Today, on March 29, 2016 the Annual General Meeting decided on a new authorization that will replace the earlier authorization granted on March 24, 2015, and therefore there are no grounds for the decision of the Board of Director of August 24, 2015. The Board of Directors decided to note that the share repurchase program had ended.
During September 1, 2015 - March 9, 2016, the company repurchased in public trading and in accordance with the rules of NASDAQ Helsinki Oy a total of 702,197 of company shares in the average price of EUR 0.85. The total purchase price of the shares was EUR 600,003.64.
Of the 702,197 company shares acquired, a total of 149,837 shares were granted against payment to two new key persons of Innofactor as part of their remuneration twice on December 18, 2015 and on January 5, 2016 in the average price of EUR 0.77 per share.
On March 29, 2016 the company owns 552,360 its own shares.
The Board of Directors decided to cancel the 552,360 company shares in its possession. The cancellation of shares does not have an effect on the amount of share capital of the company. The cancellation of shares will be registered in the Trade Register before end of April 2016. Following the cancellation the number of shares in the Company will be 32,901,377.
Espoo, March 29, 2016
INNOFACTOR PLC
Board of Directors
Additional information:
Sami Ensio, CEO
Innofactor Plc
Tel: +358 50 584 2029
Distribution:
NASDAQ Helsinki
Main media
www.innofactor.com
Innofactor is one of the leading Nordic IT solution providers focused on Microsoft platforms. Innofactor delivers business critical solutions and maintenance services as a system integrator and develops its own software products and services. The focus area in Innofactor’s own product development is Microsoft’s cloud solutions. Innofactor's customers include over 1,200 private and public sector organizations in the Nordic Countries. The company has over 500 motivated and skilled employees in a number of locations in Finland, Sweden and Denmark. In 2011–2015, the annual growth of Innofactor’s net sales has been approximately 35%. Microsoft named Innofactor Plc as the Finnish Partner of the Year in 2015. Innofactor was also selected into the Microsoft’s international finals in two categories. The Innofactor Plc share is listed in the technology section of the main list of NASDAQ OMX Helsinki Oy. www.innofactor.com