Outokumpu to start the repurchase of its own shares
Outokumpu Oyj
Stock exchange release
April 30, 2018 at 1.30 pm EEST
Outokumpu to start the repurchase of its own shares
The Board of Directors of Outokumpu has decided to utilize the authorization given by the Annual General Meeting held on March 22, 2018 to repurchase the company's own shares. The maximum number of shares to be repurchased in one or more instalments is 3,000,000 corresponding to about 0.72% of the total number of Outokumpu shares, which is 416,374,448. The shares will be repurchased using the Company's unrestricted equity through public trading on Nasdaq Helsinki. The price for the shares will be based on the price prevailing on the market on the day of the repurchase in public trading.
The share repurchases will commence on May 2, 2018 at the earliest. Repurchased shares are intended to be used mainly for the payouts under the share based incentive programs of Outokumpu.
The Board of Directors is authorized to resolve to repurchase a maximum of 40,000,000 of Outokumpu’s own shares. The authorization is valid until the end of the next Annual General Meeting, however expiring at the latest on May 31, 2019.
For more information:
Investors: Tommi Järvenpää, tel. +358 9 421 3466, +358 40 576 0288
Media: Reeta Kaukiainen, tel. +358 50 522 0924
Outokumpu Group
Outokumpu is the global leader in stainless steel. We aim to be the best value creator in stainless by 2020, through our competitive edge of customer orientation and efficiency. The foundation of our business is our ability to tailor stainless steel into any form and for almost any purpose. Stainless steel is sustainable, durable and designed to last forever. Our customers use it to create civilization’s basic structures and its most famous landmarks as well as products for households and various industries. Outokumpu employs 10,000 professionals in more than 30 countries, with headquarters in Helsinki, Finland and shares listed on Nasdaq Helsinki. www.outokumpu.com outokumpu.com/stainless-news