Kamux Corporation, Stock Exchange Release, 20.3.2024 at 8:45
HÄMEENLINNA, Finland, March 20, 2024 /PRNewswire/ -- The Board of Directors of Kamux Corporation has decided to start a repurchase programme of the company's own shares. The shares shall be repurchased to be used as part of the reward payments of the long-term incentive plan for the Group's key persons for 2024-2026 and the Green Lions matching share plan for Group's key employees.
The repurchase of own shares shall start on March 21, 2024 at the earliest, and end by April 17, 2024, at the latest. The maximum number of shares to be acquired during this term is 135,000, corresponding to approximately 0.3% of the company's total number of shares. However, the maximum amount to be used for the repurchase of shares under the term is EUR 810,000. The shares shall be acquired in a proportion other than the shareholdings of the shareholders in public trading on Nasdaq Helsinki Ltd at the market price prevailing at the time of purchase. The repurchase of own shares will be financed by the company's distributable free equity.
The company intends to continue to carry out similar repurchase programmes of own shares in the future for share-based incentive schemes.
The decision is based on the authorization given by the Annual General Meeting of 2023 for the Board of Directors to decide in one or more tranches on the repurchase of a maximum of 2,000,000 own shares of the company, corresponding to approximately 5 per cent of the company's existing shares.
Kamux Corporation has a total of 40,017,420 shares. Kamux Corporation currently holds 9,053 own shares.
For more information, please contact:
CFO Jukka Havia, tel. +358 50 355 3757
Kamux Corporation
Communications
Kamux is a retail chain specialized in used cars and related integrated services that has grown rapidly. Kamux combines online shopping with an extensive showroom network to provide its customers with a great service experience anytime, anywhere. In addition to digital channels, the company has a total of 78 car showrooms in Finland, Sweden and Germany. Since its founding in Hämeenlinna, Finland, in 2003 the company has sold over 500,000 used cars, 68,257 of which were sold in 2023. Kamux's revenue in 2023 was EUR 1,002 million and its average number of employees was 885 in terms of full-time equivalent employees. Kamux Corporation is listed on Nasdaq Helsinki Ltd. For more information, please visit www.kamux.com
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