Helsinki, 2014-07-22 07:50 CEST (GLOBE NEWSWIRE) --
CAVERION CORPORATION STOCK EXCHANGE RELEASE JULY 22, 2014 at 8:50 a.m.
Caverion Corporation to start a share repurchase programme
The Board of Directors of Caverion Corporation has resolved to acquire a maximum of 500,000 company's own shares based on the authorization given by the Annual General Meeting on March 17, 2014. The shares will be purchased to accomplish and hedge the long-term share-based incentive plan 2014−2016 for the company’s key senior executives. There is a weighty financial reason for the directed acquisition, as the purpose of the incentive plan is to encourage reaching the financial targets of the company.
The shares will be acquired in a public trading arranged by NASDAQ OMX Helsinki Ltd at the market price. The purchases of the shares will start on July 23, 2014 at the earliest and end on March 31, 2015 at the latest.
The shares shall be acquired according to the Rules of NASDAQ OMX Helsinki Ltd and otherwise according to the rules related to acquisition of company's own shares.
The authorization given by the Annual General Meeting to the Board of Directors covers the purchasing of a maximum of 12,500,000 company shares using the funds from the company's unrestricted equity.
For additional information, please contact:
Milena Hæggström, Head of Investor Relations, tel. +358 40 5581 328, milena.haeggstrom@caverion.fi
Paula Vesanto, Vice President, Group Treasury, +358 40 532 2417, paula.vesanto@caverion.fi
CAVERION CORPORATION
Distribution: NASDAQ OMX, principal media, www.caverion.com
Caverion designs, builds, operates and maintains user-friendly and energy-efficient technical solutions for buildings and industries. Our services are used in offices, retail properties, housing, public premises, industrial plants and infrastructure, among other places. We aim to be a leading European provider of advanced and sustainable life cycle solutions. Our strengths include technological competence and comprehensive services, covering all technical disciplines throughout the life cycle of the property and industrial plant. Caverion was established through the demerger of Building Services and Industrial Services businesses from YIT Group in June 2013. Our revenue for 2013 amounted to approximately EUR 2.5 billion. Caverion has nearly 18,000 employees in 13 countries in Northern and Central Europe. Caverion’s shares are listed on NASDAQ OMX Helsinki. www.caverion.com.