Citycon Oyj - Other information disclosed according to the rules of the Exchange

Citycon Oyj to repurchase its own shares and to issue shares for the implementation of share based incentive programmes

CITYCON OYJ   Stock Exchange Release   13 July 2017 at 9:05 hrs
Based on the decision of the Board of Directors on 12 July 2017, Citycon Oyj
will repurchase and convey, always subject to a valid authorization granted by
the Annual General Meeting of the company, in several separate transactions
during 2017–2020, an aggregate maximum number of 2,500,000 of its own shares to
implement payments of rewards earned under the company's share based incentive
programmes. This maximum number of shares corresponds to approximately 0.3 per
cent of all the shares of the company at the date of this release.
The repurchased shares will be conveyed in several instalments to participants
in the company's Performance Share Plan 2015 and Restricted Share Plan 2015 in
accordance with the terms and conditions of said plans. The shares will be
conveyed through a directed share issue without consideration to the
participants who are, at each time, entitled to reward under the plans. The
shares are repurchased and issued in order to execute the company's long term
incentive programmes and there are thus weighty financial reasons for the
repurchase and share issue.
The shares payable as rewards for each performance period under Performance
Share Plan 2015 will be repurchased during certain defined periods after the
approval by the company's Board of Directors of the financial statements of the
company for the years 2017, 2018 and 2019, respectively, and conveyed to the
participants in the plan after the end of each such repurchase period. The
shares payable as rewards under Restricted Share Plan 2015 will be repurchased
during certain defined periods after the end of each individual vesting period
under the plan and conveyed to the participants in the plan after the end of
each such repurchase period.
The shares will be repurchased otherwise than in proportion to shareholders’
current holdings using the company’s unrestricted shareholders’ equity at the
market price formed for the shares at the time of repurchase of the shares
through public trading in a regulated market arranged by Nasdaq Helsinki Oy. The
shares will be acquired and paid for according to the rules and instructions of
Nasdaq Helsinki Oy and Euroclear Finland Ltd.
The shares to be conveyed in the share issue will entitle their holders to
dividend and other shareholder rights when they have been registered in the book
-entry accounts of the participants in the company's Performance Share Plan 2015
and Restricted Share Plan 2015.
Further details concerning the company's Performance Share Plan 2015 and
Restricted Share Plan 2015 are available in the company's remuneration
statements and stock exchange releases dated 11 February 2015, 13 July 2015, 11
February 2016 and 22 March 2017.
Citycon Oyj does not hold any of its own shares at the date of this release. The
share issue does not change the share capital of the company.
CITYCON OYJ
For further information, please contact:
Marcel Kokkeel, CEO
Tel. +358 40 154 6760
marcel.kokkeel@citycon.com
Citycon is a leading owner, manager and developer of urban, grocery-anchored
shopping centres in the Nordic and Baltic region, managing assets that total EUR
5 billion and with market capitalisation of EUR 2 billion. Citycon is No. 1
shopping centre owner in Finland and among the market leaders in Norway, Sweden
and Estonia. Citycon has also established a foothold in Denmark.
Citycon has investment-grade credit ratings from Moody's (Baa1) and Standard &
Poor's (BBB). Citycon Oyj’s share is listed in Nasdaq Helsinki.
www.citycon.com