Business News
Metso to buy back 300,000 own shares for its Share Ownership Plan
Monday 09. February 2009 - The Board of Directors of Metso Corporation has decided, in accordance with the authorization granted by the Annual General Meeting on April 2, 2008, to repurchase a maximum number of 300,000 Company's own shares, which corresponds to about 0.2 percent of all the outstanding shares of Metso.
The shares shall be repurchased as part of the Companys incentive program announced in October 2008 (Metso Share Ownership Plan 2009-2011) to be used as potential reward payments in accordance with the Plan criteria.
Own shares will be purchased with the Company’s distributable funds and thus the repurchases will reduce the Company’s distributable non-restricted equity. Shares will be purchased at market price in public trading on the NASDAQ OMX in Helsinki Exchange.
The repurchase of own shares will start on February 12, 2009 at the earliest and it will end on March 30, 2009 at the latest.
At the moment, Metso Parent Company holds 60,841 its own shares.