Share buyback
During the past years, Sampo has been returning excess capital that emerged from the exit of Nordea to shareholders through buybacks.
The decision of the Annual General Meeting
The AGM of 2023 authorised the Board to resolve to repurchase a maximum of 50,000,000 Sampo plc's A shares representing approximately 9.7 per cent of all outstanding A shares of the company. If the Board decides on a share issue without consideration in accordance with the authorisation given by the AGM to the Board, a maximum of 300,000,000 Sampo plc's A shares may be repurchased, representing approximately 9.7 per cent of all outstanding A shares of the company after the new shares to be issued in the share issue without consideration have been registered. The repurchased shares will be cancelled.The authorisation will be valid until the close of the next Annual General Meeting, nevertheless not more than 18 months after AGM's decision.
Share buybacks 2021-2023
During the past years, Sampo has been returning excess capital that emerged from the exit of Nordea to shareholders through buybacks. The first buyback programme began on 4 October 2021.
| Buybacks by quarter | Shares repurchased | EURm |
|---|---|---|
| Q4/2021 | 8,539,956 | 380 |
| Total 2021 | 8,539,956 | 380 |
| Q1/2022 | 8,788,549 | 379 |
| Q2/2022 | 6,928,748 | 308 |
| Q3/2022 | 8,686,878 | 379 |
| Q4/2022 | 8,038,404 | 377 |
| Total 2022 | 32,442,579 | 1,443 |
| Q1/2023 | 3,191,546 | 155 |
| Total all-time* | 44,174,081 | 1,978 |
* since the start of the first programme in October 2022.
Share buyback programmes
Share buyback programme, 3 April 2023 - 1 August 2023
The Board of Directors of Sampo plc decided on 29 March 2023 to launch a buyback programme for Sampo A shares based on the authorisation granted by Sampo’s Annual General Meeting on 18 May 2022. The aggregate purchase price of the Sampo A shares acquired under the programme shall not exceed EUR 400 million and the maximum number of shares that can be repurchased is 12.5 million, corresponding to 2.4 per cent of the total number of shares in Sampo.
The programme started on 3 April 2023 and will end no later than 1 August 2023. Save for any repurchases of Sampo A shares from accelerated book builds, no shares would be repurchased during 17-19 May 2023 to ensure that dividends are not inadvertently paid to repurchased shares. The buyback programme will reduce Sampo plc’s funds available for distribution of profit. The repurchased shares will be cancelled.
Share buyback programme, 10 June 2022 - 8 February 2023
The Board of Directors of Sampo plc decided on 9 June 2022 to launch a buyback programme for Sampo A shares based on the authorisation granted by Sampo’s Annual General Meeting on 18 May 2022. The repurchases of shares started on 10 June 2022 and ended on 8 February 2023.
Sampo repurchased 22,083,582 of its own shares at an average price per share of EUR 45.28. The amount corresponds to 4.1 per cent of all Sampo plc’s shares based on the share count prior to the start of the programme. The repurchase of own shares reduced the company's unrestricted equity by approximately EUR 1 billion. The repurchased shares will be cancelled.
Share buyback programme, 31 March 2022 - 17 May 2022
The Board of Directors of Sampo plc decided on 30 March 2022 to launch a buyback programme for Sampo A shares based on the authorisation granted by Sampo’s Annual General Meeting on 19 May 2021. The repurchases of shares started on 31 March 2022 and ended on 17 May 2022.
Sampo repurchased 4,961,994 of its own shares at an average price per share of EUR 45.85. The amount corresponds to 0.9 per cent of all Sampo plc’s shares. The repurchase of own shares reduced the company's unrestricted equity by approximately EUR 228 million. The repurchased shares were cancelled on 20 May 2022.
Share buyback programme, 4 October 2021 - 25 March 2022
The Board of Directors of Sampo plc decided on 1 October 2021 to launch a buyback programme for Sampo A shares based on the authorisation granted by Sampo’s Annual General Meeting on 19 May 2021. The repurchases of shares began on 4 October 2021 and ended on 25 March 2022.
Sampo repurchased 17,128,505 of its own shares at an average price per share of EUR 43.79. The amount corresponds to 3.08 per cent of all Sampo plc's shares. The repurchase of own shares reduced the company's unrestricted equity by approximately EUR 750 million. The repurchased shares were cancelled on 31 March 2022.
Updated