Innofactor Plc Stock Exchange Release June 7, 2016, at 8:30 Finnish time
At its meeting on June 6, 2016, the Board of Directors of Innofactor Plc decided to start the acquisition of its own shares. A maximum of 800,000 shares will be acquired equalling approximately 2.43 % of the total amount of the company’s shares. The decision is based on the authorization given to the Board by the Annual General Meeting on March 29, 2016 to acquire a maximum of 8,000,000 shares. The acquisition of own shares will start at the earliest on July 1, 2016 and will end on March 31, 2017 at the latest.
The shares may be used to develop the capital structure, to widen the ownership base, in making a payment for an acquisition, or when the company buys property related to its business operations or as part of the incentive compensation plan, or to be otherwise invalidated or conveyed.
The shares will be acquired by using company’s unrestricted equity shares at the prevailing market price on the NASDAQ Helsinki Ltd in public trading in accordance with the Finnish and EU laws and regulations, and NASDAQ Helsinki Ltd regulations and guidelines for acquisition of own shares.
INNOFACTOR PLC
Board of Directors
Further 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%. The Innofactor Plc share is listed in the technology section of the main list of NASDAQ Helsinki Oy.
www.innofactor.com