SAMPO PLC STOCK EXCHANGE RELEASE 29 March 2023 at 1:40 pm EEST
Sampo returns excess capital by launching a buyback programme of EUR 400 million
In line with the Group's commitment to capital efficiency and as communicated with the 2022 full-year results, Sampo's Board of Directors has today resolved to launch a EUR 400 million share buyback programme. The buyback programme announced today is based on the authorisation granted by the Annual General Meeting held on 18 May 2022.
The aggregate purchase price of the Sampo A shares acquired under the programme shall not exceed EUR 400 million and the maximum number of shares that can be repurchased is 12.5 million, corresponding to 2.4 per cent of the total number of shares in Sampo. The programme will start at the earliest on 3 April 2023 and end no later than 1 August 2023. Save for any repurchases of Sampo A shares from accelerated book builds, no shares would be repurchased during 17-19 May 2023 to ensure that dividends are not inadvertently paid to repurchased shares. The buyback programme will reduce Sampo plc's funds available for distribution of profit. The repurchased shares will be cancelled.
The purchase price per share shall be no more than the highest price paid for the company's shares in public trading on the day of the repurchase or the offer to repurchase the company's own shares, or alternatively, the average of the share prices (volume weighted average price on the regulated markets where the company's share is admitted to trading) during the five trading days preceding the repurchase or the offer to repurchase the company's own shares. The lowest purchase price per share shall be the price that is 20 per cent lower than the lowest price paid for the company's shares in public trading during the validity of this authorisation until the repurchase or the offer to repurchase the company's own shares. The shares will be acquired through public trading on Nasdaq Helsinki, CBOE, Turquoise and Aquis. In addition to the shares repurchased in public trading, shares may, subject to certain conditions, be acquired in accelerated bookbuilds (ABB) should such be arranged.
The repurchases in public trading will be made in accordance with the safe harbour arrangement of Article 5 of the EU Market Abuse Regulation. Sampo has appointed BNP Paribas Exane as the lead manager for the share buyback programme. The lead manager will make trading decisions independently of and without influence from Sampo, within the announced limits.
SAMPO PLC
Investor Relations and Group Communications
For further information, please contact:
Sami Taipalus
Head of Investor Relations
tel. +358 10 516 0030
Maria Silander
Communications Manager, Media Relations
tel. +358 10 516 0031
Distribution:
Nasdaq Helsinki
Nasdaq Stockholm
London Stock Exchange
The principal media
FIN-FSA
www.sampo.com
