SCANFIL PLC STOCK EXCHANGE RELEASE 30 OCTOBER 2008 2.00
P.M.
SCANFIL PLC TO ACQUIRE ITS OWN SHARES
Scanfil Plc's Board of Directors has decided to initiate a share buyback of
maximum of two (2) million own shares in accordance with the authorisation given
to it at the Annual General Meeting on 3 April 2008. Added together, the number
of acquired shares and of the shares already held by the Company shall not
exceed ten per cent (10%) of the Company's share capital and of the number of
voting shares. The company owns at the moment a total of 1,993,146 of its own
shares.
Due to the small average liquidity of Scanfil Plc's shares and as advised in
clause 3.2.5 of the Rules of NASDAQ OMX Helsinki Ltd., Own Shares of a Listed
Company, the Board of Directors has decided to deviate from the procedures
described in clauses 3.2.1 - 3.2.2. Repurchasing of own shares under decided
terms may lead to a situation in which the repurchased shares exceed half (50%)
of a single day's turnover. Nevertheless, the repurchasing of shares may not
under any circumstances cause unusual market activity. Furthermore, the maximum
number of shares repurchased during one day may not exceed 10% of all shares to
be repurchased.
Shares will be bought back in public trading on the NASDAQ OMX Helsinki Ltd. for
the market price quoted at the time of the buyback, as provided by the
regulations on public trading of shares.
Shares can be repurchased to develop the company's capital structure, for use as
consideration in acquisitions or to finance other arrangements, as part of the
company's incentive scheme in the manner and within the scope determined by the
Board, or to be further disposed of or retired.
The acquisition of company's own shares will start at the earliest on 10
November 2008 and will continue until the above mentioned amount has been
acquired or otherwise announced. The authorization will be effective 18 months
from the approval at the Annual General Meeting.
SCANFIL PLC
Harri Takanen
President
Additional information
Harri Takanen, President
+358 8 4882 111
Distribution NASDAQ OMX Helsinki
Major Media
www.scanfil.com
Scanfil Plc is a global contract manufacturer and systems supplier for
communication and industrial electronics with over 30 years experience in
demanding contract manufacturing
Scanfil offers contract-manufacturing services as a systems supplier to the
telecommunication industry, mainly to wireless communication sector, as well as
to the industrial electronics industry. Main telecommunication products are
among others integrated enclosure systems for mobile phone and ADSL networks and
assembly and testing of modules related to enclosure systems. Examples of
industrial electronics products include box-built tested devices, various
electronic modules, backplanes and assembled circuit boards as well as cable
assemblies. Production plants are situated in China, Hungary, Estonia and
Finland.