Rovio Entertainment Corporation Stock Exchange Release September 4, 2018 at 6:45 p.m. EET
Rovio Entertainment Corporation starts repurchasing the Company's own shares as a part of the Company's incentive program
In its meeting on 16 May 2018, the Board of Directors of Rovio Entertainment Corporation has decided to start a repurchasing program of the Company's own shares based on the authorization given by the Annual General Meeting on 16 April 2018. The shares shall be repurchased to be used as a part of the Company's incentive program.
The share repurchase shall start on 5 September 2018 at the earliest and cease by the latest on March 31, 2019. The maximum number of shares to be acquired is 650,000 corresponding to 0.8% of the total number of shares, and the maximum sum to be used for the repurchase is EUR 7.0 million.
The shares shall be acquired in public trading on Nasdaq Helsinki Ltd. at the market price prevailing at the time of purchase.
The number of shares to be acquired cannot exceed 25 per cent of the daily average volume of the shares traded. The daily average volume is based on the daily average volume of the month preceding 16.5.2019 board's decision to start the repurchasing program.
Own shares shall be repurchased with funds from the Company's unrestricted shareholders' equity. The shares shall be repurchased at market price in the regulated trading arranged by Nasdaq Helsinki Ltd.
The Board of Directors of Rovio Entertainment Corporation is authorized by the Annual General Meeting to decide on the repurchase and/or on the acceptance as pledge of the company's own shares. The number of own shares to be repurchased and/or accepted as pledge shall not exceed 7,938,554 shares.
At the moment, the total number of shares in Rovio Entertainment Corporation is 79,447,542 and the Company does not possess any own shares.
Rovio Entertainment Corporation
Mikko Setälä, Executive Vice President, Investor Relations
More information:
Mikko Setälä, Executive Vice President, Investor Relations
tel. +358 40 485 8985
Distribution:
Nasdaq Helsinki
Main media
www.rovio.com
About Rovio:
Rovio Entertainment Corporation is a global entertainment company that creates, develops and publishes mobile games, which have been downloaded over 4 billion times. The Company is best known for the global Angry Birds brand, which started as a popular mobile game in 2009, and has since evolved from games to various entertainment and consumer products in brand licensing. Today, the Company offers multiple mobile games, animations and has produced The Angry Birds Movie, which opened number one in theatres in 50 countries and the sequel which is in production. Rovio is headquartered in Finland and the company's shares are listed on the main list of NASDAQ Helsinki stock exchange with the trading code ROVIO. (www.rovio.com)