Puuilo Oyj commences an Equity Buyback Plan for 8,477,695 shares, representing 10% of its issued share capital, under the authorization approved on May 16, 2023.
June 15, 2023 at 01:00 pm EDT
Share
Puuilo Oyj (HLSE:PUUILO) commences share repurchases on June 15, 2023, under the program mandated by the Annual General Meeting held on May 16, 2023. As per the mandate, the company is authorized to repurchase up to 8,477,695 shares, representing 10% of its issued share capital, such that the company’s holding in treasury together with the shares repurchased does not exceed 10% of its issued share capital at any point of time. Own shares can be repurchased only using the unrestricted equity of the company inter alia, derivatives. The authorization is effective until the beginning of the next Annual General Meeting, however, no longer than until July 31, 2024. As of April 20, 2023, the company had 84,776,953 shares issued and no shares in treasury.
On June 14, 2023, the company announced a share repurchase program. Under the program, the company will repurchase 240,000 shares, corresponding to approximately 0.28% of the total number of the company’s shares. The shares will be repurchased using the company’s unrestricted equity. The repurchased shares will be used for used for pay-outs under the share-based incentive plans of the company. The share repurchases will commence on June 15, 2023, at the earliest and end on July 31, 2023, at the latest
Puuilo Oyj is a Finland-based company, whose business is to provide administrative services to the Group's other companies. Puuilo Oyj is the Parent Company of Puuilo Group. The Group purchases the products from companies owned by related parties and sells them in retail stores. These companies manufacture products that are part of Puuilo's product range. The Company has more than 30 department stores around Finland and an online store. The product selection includes construction supplies, tools, car supplies, garden equipment, heating, ventilation, and air conditioning (HVAC) and electrical supplies, products for pets, as well as household goods, food supplies, and sports and leisure equipment. Puuilo serves mainly do-it-yourself customers and companies. Puuilo Oyj's subsidiaries are Puuilo Invest II Oy and Puuilo Tavaratalot Oy.
Puuilo Oyj commences an Equity Buyback Plan for 8,477,695 shares, representing 10% of its issued share capital, under the authorization approved on May 16, 2023.
PUUILO OYJ 
