Etteplan continues to repurchase own sharesBack to Releases
ETTEPLAN OYJ, Stock Exchange Release, May 28, 2018 at 6.00 p.m.
Etteplan continues to repurchase own shares
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 5, 2018. The repurchases are part of the share repurchase program initiated on December 19, 2017.
Based on the decision made by the Board of Directors on May 28, 2018, the repurchasing of shares will continue on May 29, 2018 at the earliest, and end on December 31, 2018 at the latest. As part of the share repurchase program initiated on December 19, 2917 a total of 76,551 shares can still be repurchased at the maximum price of 9 euro per share.
On December 19, 2017, the Board of Directors decided to utilize the authorization given by the AGM 2017 held on April 4, 2017 to repurchase own shares. The amount of shares to be acquired through the program shall not exceed 100,000 shares, corresponding to about 0.4 per cent of the total number of shares and votes. A maximum sum of EUR 890,000 can be spent on the repurchase program. The repurchases started on January 2, 2018 and ended on March 29, 2018. During this period, Etteplan repurchased 23,449 shares, corresponding to about 0.09 per cent of the total number of shares and votes.
On May 27, 2018, Etteplan held 58,139 of its own shares. 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.
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.
Vantaa, May 28, 2018
Board of Directors
Juha Näkki, President and CEO, tel. +358 10 307 2077
Outi Torniainen, SVP, Communications and Marketing, tel. +358 10 307 3302
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 2017, Etteplan had a turnover of approximately EUR 215 million. The company currently has over 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