Helsinki, Finland, 2011-09-02 08:00 CEST (GLOBE NEWSWIRE) -- Lassila & Tikanoja plc Stock exchange release 2 September 2011 9.00 am
The Board of Directors of Lassila & Tikanoja plc has resolved to exercise the authorisation by the Annual General Meeting on 31 March 2010 to repurchase a maximum of 50,000 of the company's own shares, which corresponds to 0.1% of the total number of issued shares. The repurchase of own shares will start on 9 September 2011 at the earliest.
The shares will be repurchased as part of the company’s incentive programme announced on 25 March 2009 to be used as potential reward payments in accordance with the programme criteria.
Shares will be repurchased otherwise than in proportion to the existing shareholdings of the company’s shareholders using the company’s unrestricted equity in public trading on the NASDAQ OMX Helsinki Ltd at the market price quoted at the time of the repurchase.
The current total number of own shares held by Lassila & Tikanoja plc is 63,305.
LASSILA & TIKANOJA PLC
Ville Rantala
President and CEO (acting)
For additional information please contact Keijo Keränen, Head of Treasury and IR, tel. +358 50 385 6957.
Lassila & Tikanoja specialises in environmental management and property and plant support services and is a leading supplier of wood-based biofuels, recovered fuels and recycled raw materials. With operations in Finland, Sweden, Latvia and Russia, L&T employs 10,400 persons. Net sales in 2010 amounted to EUR 598 million. L&T is listed on NASDAQ OMX Helsinki.
Distribution:
NASDAQ OMX Helsinki
Major media
www.lassila-tikanoja.com