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Nordea Bank Abp / Key word(s): Transaction in Own Shares
Nordea to launch third share buy-back programme of up to EUR 1.5bn
Nordea Bank Abp
Nordea's Board of Directors has approved a share buy-back programme of up to EUR 1.5bn. The programme will commence on 20 July 2022 or as soon as possible after that date. The approval from the European Central Bank for the buy-backs was announced on 8 July.
Nordea's Board of Directors has today approved a share buy-back programme of up to EUR 1.5bn. The share buy-backs will be carried out in accordance with the authorisation granted to the Board by the 2022 Annual General Meeting.
The purpose of the buy-backs is to pursue an efficient capital structure and improve shareholder returns by reducing Nordea's capital. The programme will commence on 20 July 2022 or as soon as possible after that date and end no later than 29 March 2023.
Nordea has engaged a third-party broker to execute the buy-back programme. Based on irrevocable instructions, the broker will decide on the repurchases, including their timing, in full independence. All repurchases will be made in compliance with applicable price and volume limits and applicable terms.
The key terms of the share buy-back programme include:
Prior to commencement of the third buy-back programme Nordea holds 6,073,651 treasury shares for remuneration purposes.
Nordea is implementing an efficient capital structure and will continue to distribute excess capital to shareholders in the future in line with its capital and dividend policy.
For further information:
Matti Ahokas, Head of Investor Relations, +358 9 5300 8011
The information provided in this stock exchange release was submitted for publication, through the agency of the contacts set out above, at 07.15 EET on 18 July 2022.
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End of Media Release
Nordea Bank Abp
105 71 Stockholm
Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Hamburg, Hanover, Munich, Stuttgart; SIX Swiss Exchange
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