ETTEPLAN OYJ TO REPURCHASE ITS OWN SHARES
ETTEPLAN OYJ, STOCK EXCHANGE RELEASE, 21 JUNE, 2016 AT 4.30 PM
ETTEPLAN OYJ TO REPURCHASE ITS OWN SHARES
Etteplan Oyj's Board of Directors has in its meeting on June 21, 2016 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 5, 2016. 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 Helsinki Ltd for the market price quoted at the time of the repurchase, as provided by the regulations on public trading of shares.
The repurchased shares are used for carrying out Company's incentive plan for its key 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. As of July 3rd, 2016, share repurchase program will comply with the Finnish Financial Supervisory Authorities’ guideline regarding the EU Parliament and Council regulation (EU) N:o 596/2014.
Vantaa, 21 June, 2016
Etteplan Oyj
Board of Directors
Additional information:
Juha Näkki, President and CEO, tel. +358 400 606 372
DISTRIBUTION:
Nasdaq Helsinki
Major media
www.etteplan.com
Etteplan’s services cover engineering, technical documentation, embedded systems and IoT solutions. Our customers are 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 2015, Etteplan had turnover of EUR 141.1 million. The company has about 2,500 professionals in Finland, Sweden, the Netherlands, Germany, Poland and China. Etteplan's shares are listed on Nasdaq Helsinki Ltd under the ETT1V ticker.