Sitowise Group Plc (“Sitowise”) announced on 17 March 2022 the decision of its Board of Directors to start repurchasing Sitowise’s own shares (ISIN code FI4000480215) in a share buyback program. The Board of Directors decided on the program on the basis of the authorisation granted by the unanimous resolution of shareholders made on 3 March 2021, and the program was continued based on the authorisation granted by the Annual General Meeting held on 20 April 2022.
Sitowise has now completed the share buyback program. The repurchases of shares began on 18 March 2022 and ended on 31 August 2022. During that period, Sitowise repurchased 500,000 of its own shares for the total value of EUR 2,720,089.50 and at an average price per share of EUR 5.44. The shares were repurchased in public trading on Nasdaq Helsinki Ltd at the market price prevailing at the time of purchase.
The shares were repurchased to be used as contribution in possible corporate acquisitions and as a part of Sitowise’s incentive programs. After the share repurchases at the date of this stock exchange release, Sitowise holds a total of 308,325 own shares, which corresponds to approximately 0.86 percent of the total number of shares in Sitowise.
Sitowise is a Nordic expert in the built environment and digital solutions. We provide design and consulting services to enable more responsible and smarter 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 for intelligence and sustainability, and that is why our vision is to be the most responsible partner in developing thriving and sustainable living environments. Sitowise has grown rapidly and profitably in recent years. The Group’s net sales in 2021 were approximately EUR 179 million and the company employs more than 2,000 experts. Sitowise Group Plc is listed on Nasdaq Helsinki under the trading symbol SITOWS. www.sitowise.com