On March 15, 2012, the Annual General Meeting authorised Lassila & Tikanoja plc’s Board of Directors to repurchase Company shares.
Authorising the Board of Directors to decide on the repurchase of the company’s own shares
The Board of Directors is authorised to repurchase a maximum of 500,000 Company shares (1.3% of the total number of shares) using the Company’s non-restricted equity. Shares will be repurchased otherwise than in proportion to the existing shareholdings of the Company’s shareholders in public trading on the NASDAQ OMX Helsinki Ltd (“Stock Exchange”) at the market price quoted at the time of the repurchase. Shares will be acquired and paid for in accordance with the rules of the Stock Exchange and the Euroclear Finland Ltd.
The purpose of the share repurchase is to develop the Company’s capital structure and/or to use the shares to finance potential acquisitions or other business arrangements, as part of the Company’s share-based incentive programme, or to finance investments. The Company may retain the repurchased shares, or cancel or transfer them.
The Board of Directors will decide on other terms related to the share repurchase.
The authorisation will be effective for 18 months.