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Sitowise Group Plc Stock Exchange Release 17 March 2022, at 4:35 p.m. (EET)

Sitowise Group Plc starts a share buyback program

The Board of Directors of Sitowise Group Plc (“Sitowise”) has decided to start repurchasing Sitowise’s own shares (ISIN code FI4000480215) in a share buyback program on the basis of the authorisation granted by the unanimous resolution of shareholders made on 3 March 2021.

The shares are repurchased to be used as contribution in possible corporate acquisitions and as a part of Sitowise’s incentive programs, which constitutes a weighty financial reason for the directed repurchase in accordance with the Finnish Companies Act.

The maximum number of shares to be repurchased is 500,000 and the maximum monetary amount to be used for the repurchases is EUR 4.35 million. The payment for the repurchases will reduce Sitowise’s unrestricted equity. The shares shall be repurchased in public trading on Nasdaq Helsinki Ltd in one or several instalments at the market price prevailing at the time of purchase. The share trades will be settled within the standard settlement timetable of Nasdaq Helsinki Ltd.

Sitowise has appointed Danske Bank A/S, Finland Branch (“Danske”) to arrange the share buyback program. Danske will make the trading decisions independently of Sitowise and within the stated limits. This also applies to the timing of repurchases.

The share repurchases will start on 18 March 2022 at the earliest. The repurchases will end by 21 December 2022 at the latest, provided that the proposed new authorisation on the repurchase of own shares is granted to the Board of Directors by the Annual General Meeting to be held on 20 April 2022. The program may be terminated prior to its scheduled end date and Sitowise will in such case issue a stock exchange release to this effect.

The Board of Directors of Sitowise was authorised by a unanimous resolution of shareholders made on 3 March 2021 to decide on the acquisition of a maximum of 3,500,000 of own shares. The authorisation is effective until the end of the next Annual General Meeting, however no longer than until 30 June 2022. In addition, the Board of Directors has proposed to the Annual General Meeting of Sitowise to be held on 20 April 2022 that the Board be authorised to decide on the repurchase of a maximum of 3,500,000 Sitowise’s own shares in total using Sitowise’s unrestricted equity.

Sitowise has one series of shares, in which each share carries one vote. At the moment, the total number of shares and votes in Sitowise is 35,665,927 and Sitowise holds a total of 186,145 own shares.

 

Sitowise Group Plc
Board of Directors

 

Additional information

Heidi Karlsson, CFO, heidi.karlsson@sitowise.com, tel. +358 40 759 3320

Distribution

Nasdaq Helsinki Ltd
Major media
www.sitowise.com

About Sitowise

Sitowise is a Nordic specialist and digital expert in the built environment. We offer design and consulting services for smarter and more sustainable urban development as well as smooth transportation. We operate in three business areas in Finland and Sweden: real estate and buildings, infrastructure, and digital solutions.

We want to raise the bar of being smart and sustainable, which is why our vision is to be the most responsible partner in developing a prosperous living environment. Sitowise has grown rapidly and profitably in the past years. The group’s net sales were EUR 179 million in 2021 and the company employs over 2,000 experts. Sitowise Group Plc is listed on Nasdaq Helsinki as SITOWS. www.sitowise.com