HELSINKI, Feb. 28, 2020 /PRNewswire/ -- The Board of Directors of Kamux Corporation has decided to commence repurchasing the company's own shares for execution of the company's share-based incentive scheme on the basis of the authorization given by the Annual General Meeting held on April 12, 2019. The maximum number of shares to be acquired is 82,360 corresponding to approximately 0.2 % of the total number of shares.
The shares shall be acquired through public trading on the Nasdaq Helsinki exchange otherwise than in proportion to the share ownership of the shareholders at the market price prevailing at the time of purchase. The share repurchases shall start on March 2, 2020 at the earliest, and end on March 31, 2020, at the latest.
The Annual General Meeting held on April 12, 2019 authorized the Board of Directors to decide on the repurchase of a maximum of 2,000,000 company's own shares using the unrestricted equity of the company for execution of the Company's share-based incentive schemes or for other purposes determined by the Board of Directors.
The total number of shares in Kamux Corporation is 40,017,420. Kamux Corporation owns 2,323 own shares.
For more information:
Juha Kalliokoski, CEO
Kamux Corporation is a retail chain specializing in the sale of 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 total of 72 car showrooms in Finland, Sweden and Germany. Since its founding, the company has sold more than 240,000 used cars, 46,596 of which were sold in 2018. Kamux's revenue reached EUR 527.8 million in 2018. In 2018, Kamux's average number of employees was 472 in terms of full-time equivalent employees. The shares of Kamux are listed on the Nasdaq Helsinki stock exchange.
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