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2008-10-30 13:00:00 CET 2008-10-30 13:00:00 CET REGLAMENTUOJAMA INFORMACIJA Scanfil - Company AnnouncementSCANFIL PLC TO ACQUIRE ITS OWN SHARESSCANFIL PLC STOCK EXCHANGE RELEASE 30 OCTOBER 2008 2.00 P.M. SCANFIL PLC TO ACQUIRE ITS OWN SHARES Scanfil Plc's Board of Directors has decided to initiate a share buyback of maximum of two (2) million own shares in accordance with the authorisation given to it at the Annual General Meeting on 3 April 2008. Added together, the number of acquired shares and of the shares already held by the Company shall not exceed ten per cent (10%) of the Company's share capital and of the number of voting shares. The company owns at the moment a total of 1,993,146 of its own shares. Due to the small average liquidity of Scanfil Plc's shares and as advised in clause 3.2.5 of the Rules of NASDAQ OMX Helsinki Ltd., Own Shares of a Listed Company, the Board of Directors has decided to deviate from the procedures described in clauses 3.2.1 - 3.2.2. Repurchasing of own shares under decided terms may lead to a situation in which the repurchased shares exceed half (50%) of a single day's turnover. Nevertheless, the repurchasing of shares may not under any circumstances cause unusual market activity. Furthermore, the maximum number of shares repurchased during one day may not exceed 10% of all shares to be repurchased. Shares will be bought back in public trading on the NASDAQ OMX Helsinki Ltd. for the market price quoted at the time of the buyback, as provided by the regulations on public trading of shares. Shares can be repurchased to develop the company's capital structure, for use as consideration in acquisitions or to finance other arrangements, as part of the company's incentive scheme in the manner and within the scope determined by the Board, or to be further disposed of or retired. The acquisition of company's own shares will start at the earliest on 10 November 2008 and will continue until the above mentioned amount has been acquired or otherwise announced. The authorization will be effective 18 months from the approval at the Annual General Meeting. SCANFIL PLC Harri Takanen President Additional information Harri Takanen, President +358 8 4882 111 Distribution NASDAQ OMX Helsinki Major Media www.scanfil.com Scanfil Plc is a global contract manufacturer and systems supplier for communication and industrial electronics with over 30 years experience in demanding contract manufacturing Scanfil offers contract-manufacturing services as a systems supplier to the telecommunication industry, mainly to wireless communication sector, as well as to the industrial electronics industry. Main telecommunication products are among others integrated enclosure systems for mobile phone and ADSL networks and assembly and testing of modules related to enclosure systems. Examples of industrial electronics products include box-built tested devices, various electronic modules, backplanes and assembled circuit boards as well as cable assemblies. Production plants are situated in China, Hungary, Estonia and Finland. |
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