Vantaa, Finland, 2012-02-16 08:00 CET (GLOBE NEWSWIRE) --
The Board of Directors of Ramirent Plc has based on the authorisation by the Annual General Meeting held on 7 April 2011 decided on the repurchase of up to 350,000 shares of the Company. The repurchase will not commence until one week after the decision has been published with this stock exchange release.
The repurchase of the shares will be executed in accordance with the terms of the authorisation by the Annual General Meeting. The shares will be repurchased in deviation from the proportion to the holdings of the shareholders with funds in the Company's non-restricted equity through public trading on NASDAQ OMX Helsinki Ltd at the market price of the time of the repurchase. The shares will be acquired and paid for in accordance with the rules of NASDAQ OMX Helsinki Ltd and Euroclear Finland Ltd.
The shares will be acquired to be used as part of the Company's incentive program, as consideration in possible acquisitions or in other arrangements that are part of the Company´s business, to finance investments, or to be retained, otherwise conveyed or cancelled by the Company. There is a financial weighty reason for the repurchase, since the shares are to be repurchased through public trading and the contemplated purposes of use are in the best interests of the Company and its shareholders.
Vantaa, 16.2.2012
RAMIRENT PLC
Magnus Rosén
President and CEO
FURTHER INFORMATION:
Jonas Söderkvist, CFO, tel. +358 20 750 3248
DISTRIBUTION:
NASDAQ OMX Helsinki
The main media
www.ramirent.com
Ramirent is a leading equipment rental group delivering Dynamic Rental Solutions™ that simplify business. We serve a broad range of customers, including construction and process industries, shipyards, the public sector and households. In 2011, Group net sales totalled EUR 650 million. The Group has some 3,200 employees at some 406 permanent outlets in thirteen countries. Ramirent is listed on the NASDAQ OMX Helsinki Ltd.