Helsinki, Finland, 2015-02-12 06:45 CET (GLOBE NEWSWIRE) --
MUNKSJÖ OYJ, STOCK EXCHANGE RELEASE 12 February 2015 at 6.45 a.m. CET
Munksjö to acquire its own shares
The Board of Directors of Munksjö Oyj has decided to utilise the authorization given by the Annual General Meeting held on 2 April 2014 to repurchase own shares.
In May 2014, the Board of Directors of Munksjö Oyj approved a long-term share-based incentive programme for Munksjö's senior executives and other key personnel, approximately 35 persons. The repurchased shares will be used primarily for implementing share-based incentive programmes of the company, or for other purposes defined in the authorization of the Annual General Meeting.
The Board of Directors has an authorization to acquire 4,000,000 of the company's own shares, which was given by the Annual General Meeting on 2 April 2014. The authorization is valid until the end of the Annual General Meeting 2015 to be held on 15 April 2015.
The repurchases will start at the earliest on 13 February 2015 and end on 27 March 2015 at the latest. The amount to be acquired shall not exceed 300,000 shares, corresponding to about 0.6 per cent of the total number of shares and votes. Munksjö does not before the start of the repurchases of the share hold any own shares.
The shares shall be acquired through public trading on Nasdaq Helsinki at the market price prevailing at the time of repurchase. Nordea Bank Finland Plc will act as stock broker in the repurchases.
Munksjö Oyj
For more information, please contact:
Åsa Fredriksson, SVP HR and Communications, tel. +46 10 250 1003
Laura Lindholm, Investor Relations Manager, tel. +46 10 250 1026
Munksjö – Materials for innovative product design
The Munksjö Group is an international specialty paper company with a unique product offering for a large number of industrial applications and consumer-driven products. Founded in 1862, Munksjö is among the leading producers in the world of high-value added papers within attractive market segments such as Decor paper, Release Liners, Electrotechnical paper, Abrasive backings and Interleaving paper for steel. Given Munksjö’s global presence and way of integrating with its customers’ operations, the company forms a global service organisation with approximately 2,900 employees. Production facilities are located in France, Sweden, Germany, Italy, Brazil, Spain and China. Munksjö Oyj is listed on Nasdaq Helsinki and Nasdaq Stockholm. Read more at www.munksjo.com.