Krogerus advises Nokia Corporation on its EUR 1 billion share repurchase programme
Krogerus advised Nokia Corporation on the establishment and implementation of its EUR 1 billion share repurchase programme.
In line with the EUR 7 billion capital structure optimisation programme that Nokia has announced, Nokia's board of directors has resolved to repurchase up to 575 million Nokia shares, up to an equivalent of EUR 1 billion. The repurchases are based on the authorisation granted by the Nokia's annual general meeting on 16 June 2016.
The shares may be repurchased by way of a directed repurchase from sellers in marketplaces where the rules allow companies to trade with their own shares. The purchase price will be based on the current market price of Nokia shares in such marketplaces.
Under the programme the shares may be repurchased for the purposes of either optimising the capital structure of Nokia or for the purposes of meeting obligations arising from share-based incentive plans for employees of Nokia or of its associated companies.
The programme and the current authorisation granted by Nokia's annual general meeting are valid until December 16, 2017.
The Krogerus team was led by partner Mårten Knuts. He was assisted by senior associate Paul Raade.