Outokumpu Achieves Milestone in Share Repurchase, Now Holds Over 26 Million Treasury Shares

Outokumpu Achieves Milestone in Share Repurchase, Now Holds Over 26 Million Treasury Shares

(IN BRIEF) Outokumpu, a prominent global stainless steel producer, has successfully completed its share repurchase program, which began on January 2, 2024. The company repurchased its own shares across various trading venues, totaling 239,035 shares at an average price of EUR 4.35 per share, with a combined cost of EUR 1,039,943.37. This program was initially announced on November 29, 2023, with authorization from the Annual General Meeting, allowing for a maximum of 11 million shares to be repurchased, with a budget of up to EUR 50 million. The program is scheduled to conclude no later than March 21, 2024, and following these transactions, Outokumpu now holds 26,280,273 treasury shares.

(PRESS RELEASE) HELSINKI, 3-Jan-2024 — /EuropaWire/ — Outokumpu, a global leader in sustainable stainless steel, has successfully concluded its share repurchase program, which commenced on January 2, 2024, and encompassed its own shares (ISIN FI0009002422). The company executed the repurchases across various trading venues, with the following details:

• CEUX: 88,162 shares at a weighted average price of EUR 4.3517 per share, totaling EUR 383,652.03.
• XHEL: 150,063 shares at a price of EUR 4.35 per share, amounting to EUR 652,778.13.
• AQEU: 810 shares at a weighted average price of EUR 4.3373 per share, resulting in a cost of EUR 3,513.21.

In total, Outokumpu repurchased 239,035 shares at a weighted average price of EUR 4.35 per share, with a combined cost of EUR 1,039,943.37. Please note that all figures have been rounded to two decimals.

This share buyback program was initially announced by Outokumpu on November 29, 2023. The company’s Board of Directors authorized a share buyback program with a maximum limit of 11 million shares and a total budget of up to EUR 50 million, in line with the approval received at the Annual General Meeting. The program is set to conclude no later than March 21, 2024.

Following the completion of these disclosed transactions, Outokumpu now holds 26,280,273 treasury shares.

For a detailed breakdown of the transactions, please refer to the attached appendix to this announcement.

For more information:

Investors: Linda Häkkilä, Head of Investor Relations, tel. +358 400 719 669

Media: Päivi Allenius, VP – Communications and Brand, tel. +358 40 753 7374

Media desk, tel. +358 40 351 9840, e-mail: media(at)outokumpu.com

SOURCE: Outokumpu