Kempower to start repurchasing own shares

Kempower Corporation, company release, 2 June 2022 at 16.45

Kempower to start repurchasing own shares

The Board of Directors of Kempower Corporation has resolved to start repurchasing the company’s own shares based on the authorization given by the Annual General Meeting held on 13 April 2022. The maximum number of the company’s own shares to be repurchased in one or several instalments is 163,000 shares, corresponding to approximately 0.30 per cent of all the shares in the company. The shares will be repurchased using the company’s unrestricted equity. The shares will be repurchased through public trading organized by Nasdaq Helsinki Ltd at the market price as per the time of repurchase.

The repurchase of own shares will start on 13^th of June 2022 at the earliest and end on 6^th of September 2022 at the latest. The maximum amount to be used for the share repurchase is EUR 2,400,000. The company has a weighty financial reason for the directed repurchase of its own shares because the shares are repurchased for implementing the incentive programmes of the company’s management and employees.

At the moment, the total number of shares in Kempower Corporation is 55,542,920 and the company does not hold any of its own shares. The company’s Board of Directors is authorized to resolve to repurchase a maximum of 2,777,146 own shares of the company. The authorization is in force until the conclusion of the next Annual General Meeting, however, until 30 June 2023 at the latest.

Kempower Corporation

Board of Directors

Further enquiries:

Jukka Kainulainen, CFO, Kempower
jukka.kainulainen@kempower.com
Tel. +358 29 0021900

 

Kempower, media relations:

Paula Savonen, Director, Communications, Kempower

paula.savonen@kempower.com

Tel. +358 29 0021900

Certified Adviser
Aktia Alexander Corporate Finance Oy
Tel. +358 50 520 4098

About Kempower:

Kempower designs and manufactures DC fast charging solutions for electric vehicles and machines. We’re a team of electric vehicle enthusiasts with a deep understanding of the charging market and a hands-on mentality. Our product development and production are rooted in Finland, with a majority of our materials and components sourced locally. We focus on all areas of transportation, from personal cars and commercial vehicles to mining equipment, boats and motorsports. With Kemppi Group’s 70 years’ experience in perfecting DC power supplies, we set the bar high in engineering and user-experience design. Kempower is listed in the Nasdaq First North Growth Market Finland.  www.kempower.com