Stock exchange release
Outokumpu completed its share buyback program and repurchased 11,000,000 of its own shares under the program
On
After the completion of the share buyback program, Outokumpu holds a total of 33,188,820 treasury shares, representing 7.3 % of the company's total number of shares. The share repurchases were funded by using funds from the unrestricted equity. The share repurchases were executed through public trading on the regulated market of Nasdaq Helsinki and selected multilateral trading facilities.
On
Through the share buyback program, Outokumpu seeks to mitigate and manage the dilutive impact of the company's outstanding convertible bonds. The repurchased shares are 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.
Prior to the announcement of the share buyback program, Outokumpu held 23,041,290 treasury shares, representing approximately 5.0% of the company's total number of shares.
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(at)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 approximately 8,500 professionals in close to 30 countries, with headquarters in
https://news.cision.com/outokumpu-oyj/r/outokumpu-completed-its-share-buyback-program-and-repurchased-11-000-000-of-its-own-shares-under-the,c3938741
(c) 2024 Cision. All rights reserved., source