Business News
Metso to buy back 300,000 own shares for its Share Ownership Plan
Tuesday 09. February 2010 - The Board of Directors of Metso Corporation has decided, in accordance with the authorization granted by the Annual General Meeting on March, 31 2009, 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 i.e. Metso Share Ownership Plans 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 16, 2010 at the earliest and it will end on March 26, 2010 at the latest.
At the moment, Metso Corporation holds a total of 409,617 own shares.