Marimekko Corporation, Stock Exchange Release, 14 November 2022 at 2.30 p.m.
Marimekko to start acquiring the company’s own shares
Marimekko Corporation’s Board of Directors has decided to start acquiring the company’s own shares based on the authorization granted by the Annual General Meeting held on 12 April 2022. The maximum number of shares to be acquired will be 50,000, corresponding to approximately 0.12 percent of the total number of the company’s shares. The shares will be acquired through the public trading on Nasdaq Helsinki at the market price prevailing at the time of acquisition. Acquisitions will start on 15 November 2022 at the earliest and will be concluded by the end of 2022. The authorization is valid until 12 October 2023.
The Annual General Meeting of 12 April 2022 authorized the Board of Directors to decide on the acquisition of a maximum of 150,000 of the company’s own shares, in one or more instalments, representing approximately 0.4 percent of the total number of the company’s shares. The shares will be acquired with funds from the company’s non-restricted equity, which means that the acquisition will reduce funds available for distribution. As per the authorization granted by the Annual General Meeting, the acquired shares may be used for the company’s incentive compensation program, be transferred for other purposes or be cancelled.
The total number of shares and votes in Marimekko Corporation is 40,649,170. At the moment, Marimekko holds 27,790 of its own shares.
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Marimekko is a Finnish lifestyle design company renowned for its original prints and colors. The company’s product portfolio includes high-quality clothing, bags and accessories as well as home décor items ranging from textiles to tableware. When Marimekko was founded in 1951, its unparalleled printed fabrics gave it a strong and unique identity. In 2021, the company's net sales were EUR 152 million and brand sales of the products worldwide amounted to EUR 376 million. Globally, there are roughly 150 Marimekko stores, and online store serves customers in 35 countries. The key markets are Northern Europe, the Asia-Pacific region and North America. The Group employs about 410 people. The company’s share is quoted on Nasdaq Helsinki Ltd. www.marimekko.com