Innofactor Oyj commences an Equity Buyback Plan for 3,600,000 shares, representing 9.63% of its issued share capital, under the authorization approved on March 31, 2023.
July 24, 2023 at 11:30 am EDT
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Innofactor Oyj (HLSE:IFA1V) commences share repurchases on July 24, 2023, under the program mandated by the shareholders in the Annual General Meeting held on March 31, 2023. As per the mandate, the company is authorized to repurchase up to 3,600,000 shares, representing 9.63% of its issued share capital in one or several parts. The shares may be used to carry out acquisitions or other arrangements pertaining to the company?s business operations, to develop the capital structure of the company, as part of the incentive plans, or to be otherwise invalidated or conveyed. The authorization is valid until June 30, 2024. As of February 9, 2023, the company had a total of 37,388,225 shares issued.
On July 20, 2023, the company announced a share repurchase program. Under the program, the company will repurchase 600,000 shares, which corresponds to approximately 1.7% of the total number of shares, for ?1 million. The purpose of the program is development of the company?s capital structure. The repurchase of shares will commence on July 24, 2023, at the earliest and will end at the latest on March 22, 2024, or at an earlier Annual General Meeting.
Innofactor Oyj is a Finland-based software provider focused on Microsoft solutions in the Nordic countries. The Company delivers to its customers information technology (IT) projects as a system integrator and develops its own software products and services. The focus of Innofactorâs product development is on cloud solutions for Microsoft and its ecosystem. The Companyâs solutions include digital services, business solutions, cloud infrastructure, data and analytics, cyber security as well as information and case management. Innofactor Oyj has several directly and indirectly owned subsidiaries including Innofactor Holding AS, Innofactor Holding ApS, Innofactor HRM Oy, Innofactor Software Oy and Innofactor AS.
Innofactor Oyj commences an Equity Buyback Plan for 3,600,000 shares, representing 9.63% of its issued share capital, under the authorization approved on March 31, 2023.
INNOFACTOR OYJ 
