Paper Firm To Buy Back Shares For Acquisitions
An
UPM-Kymmene Corporation product story
Edited by the Printingtalk editorial team
Aug 21, 2007
UPM is set to buy back its own shares in public trading on the Helsinki Stock Exchange at the prevailing market price.
The decision has been taken by UPM's board to exercise the authorisation of the annual general meeting of shareholders last March.
Under that ruling, the company may acquire no more than 16,400,000 of its own shares.
The shares will be acquired by using the company's non-restricted equity.
The price for the shares will be paid according to the applicable rules of the Helsinki Stock Exchange.
In accordance with the authorisation, the shares will be used to finance corporate acquisitions and investments, or other business operations, as well as part of the company's incentive programmes, or to be held by the company, relinquished or invalidated.
The share buyback will be started on August 29 August at the earliest and will be completed before September 27 2008.
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