Etteplan Oyj to initiate a share repurchase program
ETTEPLAN OYJ, Stock exchange release, February 7, 2019 at 1.30 PM
Etteplan Oyj's Board of Directors has in its meeting on February 7, 2019 decided to initiate a share repurchase program of own shares in accordance with the authorization given to it by the Annual General Meeting on April 5, 2018. 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.
The repurchasing of shares will start on February 8, 2019 at the earliest, and end on December 31, 2019 at the latest. The number of repurchased shares will not exceed 60,000 shares and number of voting rights, which corresponds to approximately 0.24 per cent of the total number of Etteplan’s shares. According to the Board’s decision, the maximum repurchase price is EUR 9.5 per share. Etteplan currently holds a total of 96,203 of its own shares, which corresponds to 0.39 per cent of all shares and voting rights.
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 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, February 7, 2019
Board of Directors
For more information, please contact:
Juha Näkki, President and CEO, tel. +358 10 307 2077
Outi Torniainen, SVP, Marketing and Communications, tel. +358 10 307 3302
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