Metsä Board commences the acquisition of company’s own shares
Metsä Board Corporation Stock exchange release Changes in company’s own shares 26 October 2022 at 4:50 pm EET
The Board of Directors of Metsä Board Corporation has today decided to launch a share buyback of company’s own shares. The number of shares to be acquired based on the authorisation shall not exceed 1,000,000 B shares, which corresponds to approximately 0.3% of all the shares in the company. The shares will be acquired for use as part of the company's share-based incentive system and to prepare for the remuneration of the Board. The aggregate amount to be used for the acquisition of own shares shall not exceed EUR 11,000,000.
The shares are acquired in one or more lots in trading organised by NASDAQ Helsinki Oy on the regulated market at the market price valid at the time of acquisition. The shares shall be acquired and paid for in accordance with the rules of NASDAQ Helsinki Oy and Euroclear Finland Oy.
The acquisition of own shares will commence on 28 October 2022 at the earliest and will end when the necessary shares have been acquired, and in any case no later than 31 December 2022.
The Annual General Meeting on 24 March 2022 authorised the Board of Directors of Metsä Board Corporation to decide on the acquisition of at maximum 1,000,000 company’s own B shares with free equity of the company’s. The amount corresponds to approximately 0.3% of all Metsä Board’s shares. Own shares can be acquired based on the authorisation only with free capital. Own share can be acquired to pay the Board's fees or for use in the company's incentive systems. The authorisation is effective until 30 June 2023.
The company has 32,802,175 A shares and 322,10,571 B shares. The company does not currently hold any own shares.
METSÄ BOARD CORPORATION
Katri Sundström, VP, Investor Relations, tel. +358 10 462 0101
Eeva Impiö-Loimaala, General Counsel, tel. +358 44 040 3877
Metsä Board is a leading European producer of premium fresh fibre paperboards. We focus on lightweight and high-quality folding boxboards, food service boards and white kraftliners. The pure fresh fibres we use in our products are a renewable and recyclable resource, that can be traced back to sustainably managed northern forests. We are a forerunner in sustainability, and we aim to have completely fossil free mills and raw materials by the end of 2030.
Together with our customers we develop innovative packaging solutions to create better consumer experiences with less environmental impact. In 2021 our sales totalled EUR 2.1 billion, and we have around 2,400 employees. Metsä Board, part of Metsä Group, is listed on the Nasdaq Helsinki.