Lassila & Tikanoja Plc
Lassila & Tikanoja plc: Lassila & Tikanoja plc to start repurchase of own shares
Lassila & Tikanoja plc
Stock exchange release
10 September 2019 1.30 pm
Lassila & Tikanoja plc to start repurchase of own shares
The Board of Directors of Lassila & Tikanoja plc has resolved to start
repurchasing of own shares by virtue of the authorisation by the Annual
General Meeting on 14 March 2019. The maximum amount of the repurchaseis
600,000 shares, which corresponds to approximately 1.5 per cent of the
total number of issued shares. The maximum amount allocated to repurchasing
the shares is EUR 9 million. The repurchasing of shares will start on 16
September 2019 at the earliest and end on 31 December 2019 at the latest.
The Annual General Meeting on 14 March 2019 authorised the Board of
Directors to resolveon a repurchase of a maximum of 2,000,000 Companys
own shares. The purpose of the share repurchase is to develop the Companys
capital structure and/or to use the shares as consideration in potential
acquisitions, other business arrangements, as part of the Companys
share-based incentive programme, or to finance investments. The repurchased
shares may either be held by the Company, or cancelled or conveyed.
The Companys own shares will be repurchased otherwise than in proportion
to the existing shareholdings of the Companys shareholders through trading
on a regulated market organised by Nasdaq Helsinki Ltd at the market price
quoted at the time of the repurchase.
The total number of Lassila & Tikanoja plc shares stands at 38,798,874.
Lassila & Tikanoja plc currently holds 383,955 of its own shares.
LASSILA & TIKANOJA PLC
President and CEO
Valtteri Palin, CFO, tel. +358 40734 7749
Lassila & Tikanoja is a service company that is putting the circular
economy into practice. Together with our customers, we keep materials and
properties in productive use for as long as possible and we enhance the use
of raw materials and energy. We help our customers maintain the value of
their properties and materials while protecting the environment. We achieve
this by delivering responsible and sustainable service solutions that make
the daily lives of our customers easier. We operate in Finland, Sweden, and
Russia. L&T employs 8,600 people. Net sales in 2018 amounted to EUR 802.2
million. L&T is listed on Nasdaq Helsinki.