Robit Plc: ROBIT TO START REPURCHASE OF COMPANY’S OWN SHARES
ROBIT PLC STOCK EXCHANGE RELEASE 19 SEPTEMBER 2019 AT 15.00
ROBIT TO START REPURCHASE OF COMPANY’S OWN SHARES
Based on the authorisation given to the Board of Directors by the Annual General Meeting on 27 March 2019, the Board of Directors of Robit Plc, at its meeting on 19 September 2019, has decided to start the repurchase of the company's own shares. The Board of Directors has decided to acquire a maximum of 150,000 shares, which corresponds to approximately 0.7% of the company's currently issued shares. The shares will be acquired using the company’s distributable unrestricted shareholders’ equity at the market price prevailing at the time of acquisition via public trading in the marketplace maintained by Nasdaq Helsinki Ltd.
The acquisition of the company’s own shares will start no earlier than 20 September 2019 and end no later than 30 November 2019. The authorisation received by the Board of Directors from the General Meeting is valid until the closing of the next Annual General Meeting, however until no later than 30 June 2020.
On 27 March 2019, the Annual General Meeting authorised the Board of Directors to resolve on the acquisition of a maximum of 2,108,390 of the company’s own shares using the company’s distributable unrestricted shareholders’ equity. The company’s own shares may be acquired for the purposes of implementing the company’s share-based incentive plans or for other purposes decided by the Board of Directors.
Robit Plc has 21,083,900 shares and votes. The company currently owns 28,634 shares at the time of publication of this release.
ROBIT PLC
Board of Directors
Further information:
Harri Sjöholm, Chairman of the Board, tel. +358 400 622 092
DISTRIBUTION:
NASDAQ Helsinki
Key media
Robit is a strongly internationalised growth company servicing global customers and selling drilling consumables for applications in mining, construction and contracting, tunnelling and well drilling. The company's offering is divided into two product and service ranges: Top Hammer and Down-the-Hole. Robit has 15 of its own sales and service points throughout the world as well as an active sales network in 115 countries. Robit’s manufacturing units are located in Finland, South Korea, Australia and the UK. Robit’s shares are listed on NASDAQ Helsinki Ltd. Further information is available at:
