Etteplan Oyj to repurchase its own shares
ETTEPLAN OYJ, STOCK EXCHANGE RELEASE, NOVEMBER 30, 2015, AT 2:00 P.M.
ETTEPLAN OYJ TO REPURCHASE ITS OWN SHARES
Etteplan Oyj's Board of Directors has in its meeting on November 30, 2015 decided to initiate a share repurchase programme of own shares in accordance with the authorization given to it at the Annual General Meeting on March 27, 2015. The number of repurchased shares will not exceed 100.000 shares and number of voting rights.
Shares will be repurchased in public trading on the NASDAQ OMX Helsinki Oy for the market price quoted at the time of the repurchase, as provided by the regulations on public trading of shares.
In accordance with the authorization, the shares may be repurchased in order to be used as consideration in potential acquisitions or in other structural arrangements. The shares may as well be used for carrying out Company's incentive schemes for its personnel. The repurchased shares may be retained by the Company, invalidated or transferred further.
Due to the low average trading liquidity of the company's shares, the Board of Directors has decided, as per Article 5 clause 3 in EU Commission Regulation No 2273/2003 to deviate from the procedures referred to in the Article 5 clause 2 in such way that acquisition of the company's own shares may lead to a situation where the volume being acquired exceeds 25% of the average daily trading volume, but even in such cases, the deviation must not exceed 50% of the average daily trading volume.
Vantaa, November 30, 2015
Board of Directors
Juha Näkki, President and CEO, tel. +358 400 606 372
Outi-Maria Liedes, SVP, HR & Communications, tel. +358 40 756 9620
NASDAQ OMX Helsinki
Etteplan provides engineering services and technical documentation solutions to the world's leading companies in the manufacturing industry. Our services are geared to improve the competitiveness of our customers' products and engineering processes throughout the product life cycle. The results of Etteplan's innovative engineering can be seen in numerous industrial solutions and everyday products.
In 2014, Etteplan had a turnover of EUR 131.9 million. The Company has approximately 2,100 professionals in Finland, Sweden, the Netherlands and China. Etteplan's shares are listed on NASDAQ OMX Helsinki Ltd under the ticker ETT1V.