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Tuesday, 1 August 2017

Elite Asset Management Plc to start to acquire the company's own shares

Elite Varainhoito Oyj    

Published: 11:05 CEST 01-08-2017 /GlobeNewswire /Source: Elite Varainhoito Oyj / : ELVH /ISIN: FI4000157441

Elite Asset Management Plc to start to acquire the company's own shares

Elite Asset Management Plc, Company Announcement, 1 August 2017 at 12:05 (EET)
 
Elite Asset Management Plc to start to acquire the company's own shares 
 
The Board of Directors of Elite Asset Management Plc has decided based on the authorization given by the Annual General Meeting held on 4 April 2017 and the permission given by the Finnish Financial Supervisory Authority on 29 June 2017 to establish a buyback program to acquire the Company's own B-shares for the implementation of the share-based compensation and incentive programs of the Company's management and employees, estimated in the spring of 2018.
 
The maximum number of treasury shares to be acquired is 150,000, corresponding to a maximum of 4.8% of the total number of B-shares at the time of this decision. The shares will be acquired at the market price at the time of the purchase through public trading on the Nasdaq First North Finland. The acquisition of shares will commence no earlier than 1 August 2017 after the buyback program has been published in a corporate announcement and will end by the end of the next Annual General Meeting in 2018 at the latest.
 
The Annual General Meeting held on 4 April 2017 authorized the Board of Directors to decide on the acquisition of a maximum of 310,000 own B-shares, in one or several instalments, with the company's unrestricted equity. The company's own shares can be acquired to develop the company's capital structure, to be used as consideration in corporate acquisitions or other company reorganizations or to finance investments and as part of the company's incentive plan.
 
Elite Asset Management Plc has 7,265,410 A-shares (145,308,200 votes) and 3,137,640 B-shares (3,137,640 votes).
 
 
Elite Asset Management Plc
The Board of Directors
 
Further information:
Elite Asset Management Plc
 
Daniel Pasternack, CEO of Elite Asset Management Plc
+358 50 569 3416
daniel.pasternack@elitevarainhoito.fi
 
Kari Juurakko, Chairman of the Board
+358 50 582 7411
kari.juurakko@elitevarainhoito.fi
 
Certified Advisor Merasco Oy
Tel: +358 9 6129 670
 
 
Elite Asset Management Plc is a profitable and growing investment service company that offers versatile and high-quality asset management services for both consumer and professional investors. Elite Asset Management Plc is listed on the First North Finland market maintained by NASDAQ Helsinki (Helsinki Exchanges). Elite Asset Management Plc is the parent company of the Elite Group (Elite). Elite's customer base consists of individuals and corporations that the company serves nationwide in 13 different locations. The first company belonging to the current Elite Group was founded in 2000. Elite employs about 80 investment professionals and offers over 30 tied agents to the Group's services. On behalf of its clients, the company manages assets of approximately EUR 1.6 billion in total. Check out Elite's services at www.elitevarainhoito.fi.
 
 
DISTRIBUTION:
NASDAQ Helsinki Oy
The main news media
www.elitevarainhoito.fi




This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of NASDAQ OMX Corporate Solutions clients. Source: Elite Asset Management Plc, Eteläesplanadi 22 A, 2nd floor, Helsinki 00130, Finland
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