Bank of Åland discontinues buy-backs of own shares

    Bank of Åland discontinues buy-backs of own shares 

Bank of Åland Plc Stock exchange release December 14, 2022, 9.55 EET

Bank of Åland discontinues buy-backs of own shares

On May 10, 2022, the Bank of Åland began acquisitions of the Bank’s own shares, as authorised by the Annual General Meeting (AGM) on March 30, 2022. The maximum number of shares that may be acquired on the basis of the Board’s acquisition decision, in one or more rounds, is 375,000 Series B shares, which is equivalent to 4.1 per cent of the total number of Series B shares and 2.4 per cent the total number of shares. The maximum amount that may be used for the buy-back is EUR 10,500,000.

The Board of Directors of the Bank of Åland (Ålandsbanken) has decided to discontinue the acquisition of the Bank’s own Series B shares that has occurred as part of the Board’s decision on May 10, 2022, since the maximum amount of EUR 10,500,000 has nearly been reached. As part of this buy-back programme, the Bank of Åland has acquired a total of 311,281 Series B shares for a total amount of EUR 10.3 M. The last trading day was December 13, 2022.

For further information, please contact:

Peter Wiklöf, Managing Director and Chief Executive, Bank of Åland Plc, tel [phone]