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2009-05-11 15:40:00 CEST 2009-05-11 15:40:11 CEST REGLAMENTUOJAMA INFORMACIJA Panostaja Oyj - Company AnnouncementSTART-UP OF THE PURCHASE PROGRAMME OF OWN SHARESPanostaja Oyj Stock Exchange Release 11th May 2009 16:40 START-UP OF THE PURCHASE PROGRAMME OF OWN SHARES Panostaja Oyj's Annual Shareholders' Meeting has, with a decision made on 26th January 2009, authorised the Board of the company to make the decision on the start-up of the purchase programme of own shares. The Board has decided to start the purchasing of own shares no earlier than on 18th May 2009. The amount to be purchased is at the most 3.500.000 shares. The purchase programme shall end no later than on 31st October 2009. The own shares shall be purchased for the company to be used as a remuneration in possible company acquisitions or other structural arrangements or when purchasing property which is a part of the business activities for the company, in order to develop the capital structure of the company or to annul shares or execute a key personnel incentive system. Additionally, the Board decided to depart from the course of action in Points 3.2.1 - 3.2.2 of the instruction according to Point 3.2.5 of the application note related to the purchase of shares by the Stock Exchange of Helsinki regarding the purchase of own shares, due to the small amount of the average solvency of the stock exchange volume. The purchase of own shares shall be executed within six months from the beginning of the purchasing and thus we aim to ensure the liquidity of the share exchange during the purchase programme. The purchasing of own shares under these conditions can lead to the fact that a half (50 %) of the average daily exchange of a share is exceeded, but even then the deviation must not cause exceptional market movement nor will it be possible to purchase more than 5 % of all the shares to be purchased during the same stock exchange day (175.000 shares). Panostaja Oyj Board of Directors Additional information: Juha Sarsama, Managing Director, tel. 040 774 2099 |
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