Finnish mining and metal
manufacturing equipment provider
Outotec has announced that its board of directors has decided to exercise the authorization given by the shareholders' annual general meeting held in March this year to acquire the company's own shares.
According to
Outotec's statement, a maximum of 500,000 shares will be acquired which represents approximately 1.1 percent of company's shares and votes. The maximum number of shares, according to the authorization was 4,578,037.
The shares will be acquired at market price in public trading arranged by NASDAQ OMX Helsinki stock exchange. The purchases will begin on September 18, 2012 at the earliest and will end on December 31, 2012 at the latest. The acquired shares will be used for the company's near-term incentive programs.