02/12/2024 | Press release | Distributed by Public on 02/12/2024 01:32
Valmet to start the share buy-back program for its share-based incentive plans
Valmet Oyj's press release onFebruary 12, 2024at 9:30 a.m. EET
Valmet announced on December 20, 2023, that the Board of Directors of Valmet has decided to use the authorization granted by the Annual General Meeting held on March 22, 2023, to repurchase the Company's own shares. Based on the authorization, the Board has decided to initiate a fixed-term share buy-back program for the purpose of acquiring the Company's own shares to meet part of the obligations arising from its share-based long-term incentive plans (LTI Plans) and the Restricted Pool incentive.
The share acquisitions will begin today, February 12, 2024, and will end at the latest on March 1, 2024. The maximum number of shares to be acquired is 100,000. The shares will be acquired at market price in public trading on Nasdaq Helsinki Ltd.
Before the start of these share acquisitions, Valmet owns a total of 368,500 treasury shares, which corresponds to approximately 0.2 percent of the total number of shares in Valmet.
Further information, please contact:
Reetta Antila, VP, Treasury, Valmet, tel. +358 50 599 3114
Pekka Rouhiainen, VP, Investor Relations, Valmet, tel. +358 10 672 0020
Valmet is a leading global developer and supplier of process technologies, automation and services for the pulp, paper and energy industries. With our automation systems and flow control solutions we serve an even wider base of process industries. Our more than 19,000 professionals around the world work close to our customers and are committed to moving our customers' performance forward - every day.
The company has over 220 years of industrial history and a strong track record in continuous improvement and renewal. Valmet's net sales in 2023 were approximately EUR 5.5 billion.
Valmet's shares are listed on the Nasdaq Helsinki and the head office is in Espoo, Finland.