Etteplan continues to repurchase own shares
Etteplan Oyj, Stock Exchange Release April 4, 2019 at 15.00 p.m.
Etteplan Oyj’s Board of Directors has today decided to continue to repurchase the Company’s own shares based on the authorization given by the Annual General Meeting (AGM) held on April 4, 2019. The repurchases are part of the share repurchase program initiated on February 7, 2019.
Based on the decision made by the Board of Directors, the repurchasing of shares will end on December 31, 2019 at the latest. As part of the share repurchase program a total of 39,813 shares can still be repurchased at the maximum price of 9.5 euro per share. The shares are repurchased in order to be used to fulfil obligations pertaining to the company's share-based incentive plan for the Group key personnel.
On February 7, 2019, the Board of Directors decided to utilize the authorization given by the AGM 2018 held on April 5, 2018 to repurchase own shares. The amount of shares to be acquired through the program was not to exceed 60,000 shares, corresponding to about 0.24 per cent of the total number of shares and votes. Based on the decision the maximum price of the shares was not to exceed 9.5 euro per share. A total of 20,187 own shared were acquired during February 8, 2019 and April 3, 2019.
On April 3, 2019, Etteplan held 116,390 of its own shares, corresponding to about 0.47 per cent of the total number of shares and votes.
Shares will be repurchased in public trading on the Nasdaq Helsinki Ltd for the market price quoted at the time of the repurchase, as provided by the regulations on public trading of shares. The number of repurchased shares may not exceed 25 per cent of the average daily volume of trade in Etteplan's shares. The average daily volume is based on the average daily volume of the month preceding the publication month of this release.
Juha Näkki, President & CEO, tel. +358 10 307 2077
Outi Torniainen, Senior Vice President, Marketing & Communications, tel. +358 10 307 3302
Etteplan in brief
Etteplan provides solutions for industrial equipment and plant engineering, software and embedded solutions, 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, services 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 2018, Etteplan had a turnover of approximately EUR 236 million. The company currently has more than 3,000 professionals in Finland, Sweden, the Netherlands, Germany, Poland and China. Etteplan's shares are listed on Nasdaq Helsinki Ltd under the ETTE ticker. www.etteplan.com