Inside information
Outokumpu launches a share buyback program of a maximum of 20 million shares
Outokumpu's Board of Directors has today approved a share buyback program of up to
Through the share buyback program, Outokumpu seeks to mitigate and manage the dilutive impact of the company's outstanding convertible bonds. The repurchased shares will be initially held by Outokumpu as treasury shares and may be used to meet its obligations under the convertible bonds. Alternatively, Outokumpu may decide to cancel any or all of the repurchased shares and reduce its capital accordingly. The share repurchases will be funded by using funds from the unrestricted equity. Prior to the announcement Outokumpu held 4,164,711 of treasury shares, representing 0.91% of the company's total number of shares.
The repurchase of shares in public trading will be executed in accordance with Regulation No. 596/2014 of the
Outokumpu has appointed a third-party broker to execute the share buyback program that, based on irrevocable instructions, will decide on the repurchase of shares in full independence, also in relation to the timing of the transactions, and in compliance with applicable price and volume limits as well as applicable terms. The share buyback program is expected to be carried out in full and have a maximum
The Annual General Meeting, held on
For more information:
Investors: Linda Häkkilä, Head of Investor Relations, tel. +358 400 719 669
Media:
Media desk, tel. +358 40 351 9840, e-mail media@outokumpu.com
Outokumpu is the global leader in stainless steel. The foundation of our business is our ability to tailor stainless steel into any form and for almost any purpose. Stainless steel is sustainable, durable and designed to last forever. Our customers use it to create civilization's basic structures and its most famous landmarks as well as products for households and various industries. Outokumpu employs some 9,000 professionals in more than 30 countries, with headquarters in
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