SRV GROUP PLC STOCK EXCHANGE RELEASE 11.4.2011 16:10
SRV Group Plc has reduced its holding in own shares by implementing a directed share issue, in which 1,500,000 million shares were offered, in deviation from shareholders’ pre-emptive rights, for subscription at a price of EUR 6.60 per share. Arrangement was executed on 11 April 2011 by Evli Bank Plc.
Related to the arrangement, SRV made a direct acquisition of 1,356,650 company shares using the company’s unrestricted equity. The shares were acquired on 11 April 2011 from Nordea Bank AB (publ.) at a price of EUR 4.45 per share. The acquisition took place as part of a derivatives contract concluded between the company and Nordea on 5 January 2010. The derivatives contract will continue in respect of 552,833 shares. After the acquisition of the shares, the company held 2,201,700 own shares, representing 5.99% of the company’s shares (including remaining shares under the derivatives contract 2,754,533, representing 7.49% of SRV shares).
After the share transaction, the company holds 701,700 own shares, representing 1.91% of the company’s shares (including remaining shares under the derivatives contract 1,254,533, representing 3.41% of SRV shares).
The decisions related to the arrangement are based on the authorization to the Board of Directors of SRV Group Plc granted by the company’s Annual General Meeting held on 15 March 2011.
The arrangement will increase SRV’s shareholders’ equity by EUR 9.9 million as well as the company’s equity ratio, which was 35.1% on 31 December 2010.
SRV Group Plc
Taneli Hassinen
Director Communications
Tel. +358-40-504-3321
taneli.hassinen@srv.fi
Additional information:
Hannu Linnoinen, Executive Senior Vice President, CFO, Tel. +358-20-145-5990