SATO Corporation, Stock exchange release, 11 December 2023 at 15:15
SATO Corporation’s Extraordinary General Meeting was held at 13:00 on Monday, 11 December 2023 in the auditorium of the SATO Building at Panuntie 4, 00160 Helsinki, Finland. The General Meeting approved the proposal made by the Board of Directors to the General Meeting.
The General Meeting authorised the Board of Directors to decide on the issuance of shares by one or several tranches in the following manner:
The number of shares to be issued shall not exceed 56 700 000 shares, which corresponds to approximately 100 percent of all shares in the company. Gross proceeds of maximum EUR 200 000 000 can be raised through the share issue. The share issue is aimed at strengthening the company’s equity ratio. The Board of Directors decides on all the conditions of the issuance of shares. The authorization concerns the issuance of new shares. The authorization is valid until the close of the next Annual General Meeting, however, no longer than 30 June 2024.
SATO CORPORATION
For more information, please contact:
Antti Aarnio, President and CEO, phone: +358 40 134 4200
Markku Honkasalo, CFO, phone: +358 201 134 4226
www.sato.fi/en
CC: Euronext Dublin, main media, www.sato.fi/en
SATO Corporation is an expert in sustainable rental housing and one of Finland’s largest rental housing providers. SATO owns around 25,000 rental homes in the Helsinki Metropolitan Area, Tampere and Turku.
SATO aims to provide an excellent customer experience and a comprehensive range of urban rental housing alternatives with good access to public transport and services. We promote sustainable development and work in open interaction with our stakeholders. SATO invests profitably, sustainably and with a long-term view. We increase the value of our assets through investments, divestments and repairs.
In 2022, SATO Group’s net sales totalled EUR 291.2 million, operating profit EUR 198.9 million and profit before taxes EUR 151.9 million. The value of SATO’s investment properties is around EUR 5 billion. www.sato.fi
