CITYCON OYJ Stock Exchange Release 9 December 2024 at 18:20
The Annual General Meeting of Citycon Oyj resolved on 19 March 2024 the annual fees for the members of the Board of Directors of Citycon Oyj. The Extraordinary General Meeting of Citycon Oyj resolved on 18 June 2024 that the net amount of the annual fees resolved by the Annual General Meeting for the members of the Board of Directors and Chairmen of the Board of Directors’ Committees, after the deduction of taxes and charges, will be paid in two equal instalments in new or treasury shares of Citycon Oyj. The first instalment of the fees was paid in July 2024.
The Extraordinary General Meeting of the Company resolved on 12 November 2024 to elect a new member to the Board of Directors, whose term will continue until the end of the next Annual General Meeting. The new member of the Board of Directors will be paid, in accordance with the resolutions adopted by the Annual General Meeting on 19 March 2024 and the Extraordinary General Meeting on 18 June 2024, an annual Board member fee in proportion to the length of their term.
The Board of Directors of Citycon Oyj resolved, based on the authorization granted by the Annual General Meeting on 19 March 2024, on a directed share issue without consideration to implement the resolutions of the Annual General Meeting on 19 March 2024 and the Extraordinary General Meetings on 18 June 2024 and 12 November 2024. The directed share issue concerns the payment of the second instalment of the annual fees to the members of the Board of Directors elected by the Annual General Meeting and the payment of the fee for the term to the new member of the Board of Directors.
A total maximum of 79,455 new shares in the company will, in deviation from the shareholders’ pre-emptive right, be issued without consideration to the members of the Board of Directors of the company. The company has a particularly weighty financial reason for the deviation from the shareholders’ pre-emptive right, as the shares are issued as part of the remuneration of the members of the Board of Directors.
The number of shares directed to the members of the Board is calculated using the weighted average price of the Company's share on Nasdaq Helsinki Ltd during 21 November 2024 – 4 December 2024. The cash portion of the fee is intended to cover the withholding tax on the annual fee of the Board member.
The new shares are estimated to be entered into the Trade Register on 18 December 2024 and applied for public listing on Nasdaq Helsinki Ltd on 19 December 2024. Following the entry of the new shares into the Trade Register, the total number of shares in the company will be 184,231,295 .
CITYCON OYJ
For further information, please contact:
Anni Torkko
Investor Relations Manager
Tel. +358 45 358 0570
anni.torkko@citycon.com
Citycon is a leading owner, manager and developer of mixed-use real estate featuring modern, necessity-based retail with residential, office and municipal service spaces that enhance the communities in which they operate. Citycon is committed to sustainable property management in the Nordic region with assets that total approximately EUR 4.0 billion. Our centres are located in urban hubs in the heart of vibrant communities with direct connections to public transport and anchored by grocery, healthcare and other services that cater to the everyday needs of customers.
Citycon has an investment-grade credit rating from Standard & Poor's (BBB-). Citycon’s shares are listed on Nasdaq Helsinki Ltd.
www.citycon.com