Citycon

Citycon outsources its finance activities related to Nordic Accounting and Lease Administration

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月曜日, 5月 13, 2024
Heart, Partnership, ERP, Citycon, Sales

HELSINKI, May 13, 2024 /PRNewswire/ -- Citycon will outsource its finance activities, specifically those related to Nordic Accounting and Lease Administration, to enhance the scalability and flexibility of its operations in line with evolving business requirements. The vendor for the outsourcing is Staria, a financial services company offering international financial administration services in over forty countries.

Key Points: 
  • HELSINKI, May 13, 2024 /PRNewswire/ -- Citycon will outsource its finance activities, specifically those related to Nordic Accounting and Lease Administration, to enhance the scalability and flexibility of its operations in line with evolving business requirements.
  • The vendor for the outsourcing is Staria, a financial services company offering international financial administration services in over forty countries.
  • The outsourcing includes a transfer of people from Nordic Accounting and Lease Administration teams, from Sweden, Finland, Norway and Estonia.
  • "We're thrilled to welcome Citycon's esteemed finance team into our fold to enrich our talent pool with highly skilled professionals from the Nordic region.

Citycon recognized as a European Climate Leader and ranks number one in the Nordic real estate sector

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木曜日, 4月 25, 2024
Science, Statista, Citycon, CDP, WRI, Financial Times, Targets, World Resources Institute, Real-time, Environment, Science Based Targets initiative, WWF, Carbon accounting, United Nations Global Compact, Climate, Renewable energy

HELSINKI, April 25, 2024 /PRNewswire/ -- Citycon has again been recognized as one of Europe's Climate Leaders by the Financial Times and German research company Statista, making the prestigious list for the fourth consecutive year. Citycon is named number one in the Nordic real estate sector and ranks among the top 20% of all European companies, irrespective of the sector.

Key Points: 
  • Citycon is named number one in the Nordic real estate sector and ranks among the top 20% of all European companies, irrespective of the sector.
  • "I am proud to lead a company that sets ambitious targets for reducing emissions and also achieves them year after year.
  • Awarded the Shopping Centre of the Year in 2023, the centre is recognized for its innovative energy systems.
  • "We are dedicated to making a positive impact on people, communities, and the environment through our 33 centres across the Nordic region.

The Board of Directors of Citycon Oyj decided on two new incentive plans and amendment to the Stock Option Plan 2024

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月曜日, 4月 15, 2024
Citycon, Black, Annual, Reward, Tax, Social Security, Cryptocurrency

HELSINKI, April 15, 2024 /PRNewswire/ -- The Board of Directors of Citycon Oyj has resolved to launch a new stock option plan and restricted share unit plan directed to the Chief Executive Officer. The aim is to align the objectives of the shareholders and the CEO in order to increase the long-term value of the company, to retain the CEO at Citycon, and to offer her a competitive reward plan.

Key Points: 
  • The share subscription period for stock options is,
    The theoretical market value of one stock option 2024A-C is approximately 0,19 euros.
  • The Board of Directors decided on the new stock option plan based on the authorisation given by the Annual General Meeting of Shareholders on 19 March 2024.
  • The Board resolved on stock options 2024 on 19 March 2024.
  • The Board resolved to increase the maximum number of stock options distributed from the plan with 150,000 stock options, so the total maximum number of stock options will be 500,000 stock options.

Citycon launches Spotlight: Flexible retail spaces in Nordic and Baltic centres, tailored for the future of retail

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月曜日, 4月 15, 2024
Advertising, Citycon, Senior, Spotlight, Vending machine, Nordic

HELSINKI, April 15, 2024 /PRNewswire/ -- Citycon invites retailers from around the world to step into the Spotlight with a range of flexible solutions designed for brilliant exposure in the busiest areas of its centres across the Nordic region. The newly introduced Spotlight brand includes redefined products such as promotion spots, pop-ups, ad surfaces and even full-centre takeovers.

Key Points: 
  • With a strong and growing business, Citycon has strategic locations and high footfall, attracting 140 million visitors annually to its 33 centres.
  • This volume serves as the foundation for Spotlight, which extends Citycon's offerings beyond conventional leasing, providing retailers with flexible spaces tailored for their unique needs.
  • We are proud to introduce Spotlight, providing easy access to the Nordic market with a range of flexible offerings."
  • Spotlight is about providing retailers with flexible solutions designed for standout visibility in physical spaces.

Inside information: Citycon Oyj successfully completes directed share issue of 11.9 million new shares raising EUR 48.2 million

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金曜日, 2月 23, 2024
Place, Citycon, EUR, NOT, Share (finance), Finnish Trade Register, Share

HELSINKI, Feb. 23, 2024 /PRNewswire/ -- Citycon Oyj ("Citycon" or the "Company") announces the result of the directed share issue of new shares in the Company (the "Shares") in an accelerated bookbuilding process to eligible Finnish and international institutional and other qualified investors (the "Placing"). The Company announced its intention to explore the conditions to carry out the Placing by a stock exchange release published on 22 February 2024. The Placing was carried out based on offers received in the Placing and attracted a considerable amount of global and Nordic institutional investors.

Key Points: 
  • HELSINKI, Feb. 23, 2024 /PRNewswire/ -- Citycon Oyj ("Citycon" or the "Company") announces the result of the directed share issue of new shares in the Company (the "Shares") in an accelerated bookbuilding process to eligible Finnish and international institutional and other qualified investors (the "Placing").
  • The Placing was carried out based on offers received in the Placing and attracted a considerable amount of global and Nordic institutional investors.
  • As a result of the Placing, the Company will raise gross proceeds of approximately EUR 48.2 million.
  • Deutsche Bank Aktiengesellschaft and Skandinaviska Enskilda Banken AB (publ) Helsinki branch act as Joint Bookrunners of the Placing.

Inside information: Citycon Oyj explores the conditions to carry out a directed share issue of up to 11.9 million new shares and plans other measures to further strengthen its balances sheet

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木曜日, 2月 22, 2024
Deutsche Bank, Place, Citycon, EET, NOT, Finnish Trade Register

HELSINKI, Feb. 22, 2024 /PRNewswire/ -- Citycon Oyj ("Citycon" or the "Company") explores the conditions to carry out a directed share issue of up to 11.9 million new shares in the Company (the "Shares"), corresponding to up to approximately 6.9 per cent of all shares in the Company prior to the directed share issue, by means of an accelerated bookbuilding process (the "Placing"). The Placing would be directed only to eligible Finnish and international institutional and other qualified investors.

Key Points: 
  • The Placing would be directed only to eligible Finnish and international institutional and other qualified investors.
  • The subscription price and the total number of Shares to be offered in the Placing would be determined based on offers received in the Placing.
  • The Company has retained Deutsche Bank Aktiengesellschaft ("Deutsche Bank") and Skandinaviska Enskilda Banken AB (publ) Helsinki branch ("SEB") as Joint Bookrunners in connection with the Placing.
  • The capital structure and balance sheet strengthening would also support the Company in maintaining its investment grade credit rating.

Inside information: Citycon Oyj successfully completes directed share issue in exchange for repurchasing certain of its hybrid bonds for EUR 6.4 million

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水曜日, 12月 20, 2023
ITS, Finnish Trade Register, Share (finance), Health, NOT, ANY, Transaction, S&P Global Ratings, Citycon, Heart, Annual, EUR, PEOPLE, Standard, Security (finance)

HELSINKI, Dec. 20, 2023 /PRNewswire/ -- The Board of Directors of Citycon Oyj ("Citycon" or the "Company") has decided, by virtue of the authorization granted by the Annual General Meeting of the Company on 21 March 2023, to issue up to 1,210,866 new shares in the Company (the "Shares") to certain institutional hybrid bond holders in the Company (the "Investors") in deviation of the pre-emptive subscription rights of the shareholders (the "Share Issue") in exchange for the Company repurchasing certain of its outstanding subordinated fixed to reset rate 5.25 year non-call undated green capital securities, issued on 22 November 2019 (ISIN XS2079413527, the "2024 Hybrid Bonds") from the Investors in an approximate aggregate principal amount of EUR 7.6 million (the bond repurchases and the Share Issue together, the "Transaction"). Pursuant to the Transaction, the subscription price for the Shares payable by the Investors to the Company is set off against the repurchase price for the 2024 Hybrid Bonds payable by the Company to the Investors.

Key Points: 
  • The Board of Directors has approved the terms and conditions of the Share Issue and the subscription made in accordance with the terms and conditions of the Share Issue.
  • A total of 1,210,866 Shares were subscribed for in the Share Issue.
  • The subscription price was EUR 5.30 per Share, and the aggregate subscription price for all Shares was approximately EUR 6.4 million.
  • The closing price of the Company's share in Nasdaq Helsinki on 19 December 2023 was EUR 5.26.

Citycon announces Chief Financial Officer transition

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金曜日, 12月 1, 2023
CFO, University college, University College London, Master of Science, Friends, Investment banking, Family, News, Economics, Corporate finance, SEB, Human, Pleasure, Management, Citycon

HELSINKI, Dec. 1, 2023 /PRNewswire/ -- Citycon has announced an orderly transition of its Chief Financial Officer position to take place in early 2024. Bret D. McLeod, current Chief Financial Officer of Citycon, has announced his intention to resign from his position effective January 31, 2024, to pursue another opportunity back in his native United States.At the same time, the Board of Directors of Citycon has unanimously appointed Sakari Järvelä, current VP, Corporate Finance and Investor Relations, to the position of CFO-elect, beginning immediately.  Mr. Järvelä will assume the CFO role and will become a member of Citycon's Corporate Management Committee on February 1, 2024 and continue to work side-by-side with Mr. McLeod until that date. Prior to joining Citycon in 2022, Mr. Järvelä spent the majority of his career in various European investment banking roles, the most recent at SEB as the Head of Investment Banking in Germany and holds an MSc Economics from University College London.  He resides in Helsinki metropolitan area with his wife and son."It is with mixed emotions that I leave Citycon.  These past three years have been an incredible experience for myself, and my family, and I am excited for what lies ahead for us as we move back to the U.S.," says Bret McLeod, Chief Financial Officer of Citycon. "At the same time, I am very proud of the numerous achievements and transactions we have completed and sad to leave wonderful colleagues and friends. The great news is that I could not leave the position in better hands than that of my successor, Sakari Järvelä.  Sakari has worked closely with me during my tenure and has been involved in every financial and strategic aspect of the company, while representing the company as a trusted voice to the investment community.  I wish him, and Citycon, nothing but great success and am happy to assist anyway I can during this transition." "While we are sad to see Bret leave, we want to thank him for his many contributions to Citycon and are appreciative to him for ensuring a smooth transition.  He has been a great partner to me and the Board and we wish him, and his family, well as he pursues a great opportunity back home in the U.S," says F. Scott Ball, Chief Executive Officer of Citycon. "That said, I am thrilled to welcome Sakari to the leadership team at Citycon and congratulate him on his future appointment as CFO.  Sakari is a dedicated and talented executive whom I have had the pleasure of working with on a variety of complicated transactions during his time at Citycon.  I have also witnessed the respect he garners from our employees, banking partners, investors, and rating agencies and know that his elevation to CFO will be seamless.""I am humbled and honoured by the Board's decision to nominate me as CFO-elect and to serve as the next Chief Financial Officer of Citycon," says Sakari Järvelä, CFO-elect of Citycon.  "It has been a pleasure to work with Bret and I am grateful for his mentorship and friendship and his assistance in making this transition an efficient one.  I am excited to join a leadership team I have great respect for and to continue to execute on Citycon's commitment to maintaining the highest financial standards and our investment grade rating. "

Key Points: 
  • HELSINKI, Dec. 1, 2023 /PRNewswire/ -- Citycon has announced an orderly transition of its Chief Financial Officer position to take place in early 2024.
  • Bret D. McLeod, current Chief Financial Officer of Citycon, has announced his intention to resign from his position effective January 31, 2024, to pursue another opportunity back in his native United States.
  • These past three years have been an incredible experience for myself, and my family, and I am excited for what lies ahead for us as we move back to the U.S.," says Bret McLeod, Chief Financial Officer of Citycon.
  • "I am humbled and honoured by the Board's decision to nominate me as CFO-elect and to serve as the next Chief Financial Officer of Citycon," says Sakari Järvelä, CFO-elect of Citycon.

Inside information: Citycon Oyj successfully completes directed share issue in exchange for repurchasing certain of its hybrid bonds for EUR 14.7 million

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水曜日, 11月 29, 2023
Annual, Transaction, NOT, Finnish Trade Register, S&P Global Ratings, Standard, PEOPLE, Heart, EUR, FOR, ISIN, Health, Share (finance), Security (finance), Bank, Citycon

HELSINKI, Nov. 29, 2023 /PRNewswire/ -- The Board of Directors of Citycon Oyj ("Citycon" or the "Company") has decided in its meeting today, 28 November 2023, by virtue of the authorization granted by the Annual General Meeting of the Company on 21 March 2023, to issue up to 2,774,398 new shares in the Company (the "Shares") to a institutional hybrid bond holder in the Company (the "Investor") in deviation of the pre-emptive subscription rights of the shareholders (the "Share Issue") in exchange for the Company repurchasing certain of its outstanding subordinated fixed to reset rate 5.25 year non-call undated green capital securities, issued on 22 November 2019 (ISIN XS2079413527, the "2024 Hybrid Bonds") from the Investor in an aggregate principal amount of EUR 17.5 million (the "Bond Repurchase", and together with the Share Issue, the "Transaction"). Pursuant to the Transaction, the subscription price for the Shares payable by the Investors to the Company is set off against the repurchase price for the 2024 Hybrid Bonds payable by the Company to the Investor.

Key Points: 
  • The Board of Directors has approved the terms and conditions of the Share Issue and the subscription made in accordance with the terms and conditions of the Share Issue.
  • The subscription price was EUR 5.30 per Share, and the aggregate subscription price for all Shares was approximately EUR 14.7 million.
  • The closing price of the Company's share in Nasdaq Helsinki on 28 November 2023 was EUR 5.24.
  • The Company will repurchase the 2024 Hybrid Bonds for an approximate aggregate price of EUR 14.7 million.

Citycon to publish its Interim Report for January-September 2023 on Wednesday, 1 November 2023 after market close

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水曜日, 10月 25, 2023
EEST, ID, Citycon, Online shopping

HELSINKI, Oct. 25, 2023 /PRNewswire/ -- Citycon will publish its Interim Report for January-September 2023 on Wednesday, 1 November 2023 after market close.

Key Points: 
  • HELSINKI, Oct. 25, 2023 /PRNewswire/ -- Citycon will publish its Interim Report for January-September 2023 on Wednesday, 1 November 2023 after market close.
  • The report will be available on Citycon's website immediately after publication.
  • Citycon's investor, analyst and press conference call and live audiocasting will be held on Thursday, 2 November 2023 at 10 am EEST.
  • The audiocast can be participated by calling in and following live at this website: https://citycon.videosync.fi/q3-2023
    Questions for the management can be presented by phone.