Stock Exchange Release
8 December 2022 at 17:30 EET
Nokia launches second phase of share buyback program and cancels repurchased shares
Espoo, Finland – In line with the announcement on 3 February 2022, the Board of Directors of Nokia Corporation ("Nokia" or the "Company") has today decided to launch the second EUR 300 million phase of the share buyback program that aims to return up to EUR 600 million of cash to its shareholders in tranches over a period of two years. Repurchases are expected to resume in early January. The first phase of the share buyback program with a maximum aggregate purchase price of EUR 300 million was initiated on 14 February 2022 and it was completed on 11 November 2022.
The main terms of the second phase of the share buyback program:
Nokia may terminate the program prior to its scheduled end date and will in such case issue a stock exchange release to this effect.
Cancellation of treasury shares registered
Nokia has today also cancelled 63 963 583 Nokia shares held by the Company and repurchased under the first phase of the buyback program during the period between 14 February 2022 and 11 November 2022 in line with the decision by the Board of Directors.
The cancellation of the treasury shares was registered with the Finnish Trade Register on 8 December 2022.
The cancellation of the shares does not affect the Company’s share capital nor total equity.
After the cancellation, the total number of shares and votes in Nokia Corporation is 5 632 297 576. After the cancellation, Nokia Corporation holds 33 822 878 treasury shares.
Board of Directors
At Nokia, we create technology that helps the world act together.
As a trusted partner for critical networks, we are committed to innovation and technology leadership across mobile, fixed and cloud networks. We create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs.
Adhering to high standards of integrity and security, we help build the capabilities needed for a more productive, sustainable and inclusive world.
Phone: +358 40 803 4080
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