Citycon Oyj - Total number of voting rights and capital

Citycon Oyj resolved on a directed share issue without consideration for the payment of the remuneration to the Board of Directors

CITYCON OYJ     Stock Exchange Release     17 July 2024 at 19:15

The Annual General Meeting of Citycon Oyj resolved on 19 March 2024 the annual
fees for the members of the Board of Directors of Citycon Oyj. The Extraordinary
General Meeting of Citycon Oyj resolved on 18 June 2024 that the net amount of
the annual fees resolved by the Annual General Meeting for the members of the
Board of Directors and Chairmen of the Board of Directors' Committees, after the
deduction of taxes and charges, will be paid in two equal instalments in new or
treasury shares of Citycon Oyj.
The Board of Directors of Citycon Oyj resolved, based on the authorization
granted by the Annual General Meeting on 19 March 2024, on a directed share
issue without consideration to implement the resolutions of the Annual General
Meeting on 19 March 2024 and the Extraordinary General Meeting on 18 June 2024.
The directed share issue concerns the payment of the first instalment of the
annual fees.
A total maximum of 67 636 new shares of the Company will, in deviation from the
shareholders' pre-emptive right, be issued without consideration to the members
of the Board of Directors of the Company. The Company has a particularly weighty
financial reason for the deviation from the shareholders' pre-emptive right, as
the shares are issued as part of the remuneration of the members of the Board of
Directors.
The Annual General Meeting 19 March 2024 resolved that the Chairman of the Board
of Directors is paid an annual fee of EUR 160,000, the Deputy Chairmen EUR
70,000 and the ordinary members of the Board EUR 50,000. The Chairmen of the
Board of Directors' Committees will be paid an additional annual fee of EUR
5,000. The net amount of the annual fees, after the deduction of taxes and
charges, is paid in shares of Citycon Oyj.
The number of shares directed to the members of the Board is determined by
converting half of the Board member's personal annual fees and the additional
annual fees of the Chairmen of the Board of Directors' Committees into shares
and a cash portion using the weighted average price of the Company's share on
Nasdaq Helsinki Ltd during 27 June 2024 - 11 July 2024. The cash portion is
intended to cover the withholding tax on the annual fee of the Board member.
The new shares are estimated to be entered into the Trade Register on 30 July
2024 and applied for public trading on Nasdaq Helsinki Ltd on 31 July 2024.
Following the entry of the new shares into the Trade Register, the total number
of shares in the Company will be 184 151 840.
The second instalment of the annual fees will be paid to the members of the
Board of Directors in December.
CITYCON OYJ
For further information, please contact:
Sakari Järvelä
Chief Financial Officer
Telephone +358 50 387 8180
sakari.jarvela@citycon.com
Citycon is a leading owner, manager and developer of mixed-use real estate
featuring modern, necessity-based retail with residential, office and municipal
service spaces that enhance the communities in which they operate. Citycon is
committed to sustainable property management in the Nordic region with assets
that total approximately EUR 4.2 billion. Our centres are located in urban hubs
in the heart of vibrant communities with direct connections to public transport
and anchored by grocery, healthcare and other services that cater to the
everyday needs of customers.
Citycon has investment-grade credit rating from Standard & Poor's (BBB-).
Citycon's shares are listed on Nasdaq Helsinki Ltd.
www.citycon.com