Published: 19:01 15.03.2005 GMT+2 /HUGIN /Source: Uponor Corporation /HEX: UNR1V /ISIN: FI0009002158
Uponor Corporation to initiate share buyback
Uponor Corporation Stock Exchange Announcement 15 March 2005 18:50
Uponor Corporation's Board of Directors has decided to initiate a share buyback of a maximum of 1.5 million own shares, based on the authorisation given by the Annual General Meeting held earlier today.
While disclosing the 2004 annual accounts on 2 February, the Board announced its plan to buy back shares for around EUR 20m in 2005, thus returning capital to the shareholders.
Shares will be bought back in public trading on the Helsinki Stock Exchange for the market price quoted at the time of the buyback, as provided by the regulations on public trading of shares. The buyback will not be initiated until one week has elapsed from the public announcement of this Board resolution.
Uponor will buy back shares to use them in consideration of any acquisitions and other industrial restructuring, and to develop its capital structure, finance investments, dispose of them in some other way or cancel them.
The share buyback will reduce the company's unrestricted equity.
Uponor Corporation
Tarmo Anttila
Vice President, Communications
DISTRIBUTION:
Helsinki Stock Exchange
Media
www.uponor.com
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