Etteplan Oyj to initiate a share repurchase program
Released:6/21/2017 Category:Other information disclosed according to the rules of the Exchange
ETTEPLAN OYJ, Stock Exchange Release, June 21, 2017 AT 4.45 pm
Etteplan Oyj's Board of Directors has in its meeting on June 21, 2017 decided to initiate a share repurchase program of own shares in accordance with the authorization given to it at the Annual General Meeting on April 4, 2017. The repurchased 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.
The repurchasing of shares will start on June 26, 2017 at the earliest, and end on September 30, 2017 at the latest. The number of repurchased shares will not exceed 30,000 shares and number of voting rights, which corresponds to approximately 0.12 per cent of the total number of Etteplan’s shares. A maximum sum of EUR 285 000 can be spent on the repurchase program.
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.
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.
Vantaa, 21 June, 2017
Board of Directors
For more information, please contact:
Juha Näkki, President and CEO, tel. +358 400 606 372
Outi Torniainen, SVP, Communications and Marketing, tel. +358 40 512 1375
Etteplan provides industrial equipment and plant engineering, embedded systems, IoT (Internet of Things), 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 2016, Etteplan had a turnover of EUR 183.9 million. The company currently has more than 2,600 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