Outokumpu Oyj repurchased 124,402 own shares as Part of EUR 50 Million Buyback Program

Outokumpu Oyj repurchased 124,402 own shares as Part of EUR 50 Million Buyback Program

(IN BRIEF) Outokumpu, a leading stainless steel manufacturer, has finalized its share repurchase program, acquiring a substantial number of treasury shares across multiple trading venues. With a maximum of 11 million shares earmarked for repurchase and approval from the Board of Directors, the program aimed at enhancing shareholder value. The completed transactions, totaling 124,402 shares at an average price of EUR 4.09 per share, signify Outokumpu’s commitment to leveraging its financial resources efficiently. Following these acquisitions, Outokumpu now holds 31,936,761 treasury shares.

(PRESS RELEASE) HELSINKI, 22-Feb-2024 — /EuropaWire/ —

On February 21, 2024, Outokumpu has completed repurchases its own shares as follows (ISIN FI0009002422):

* Rounded to two decimals

Outokumpu announced a share buyback program of a maximum of 11 million shares on November 29, 2023. The Board of Directors approved a share buyback program of up to EUR 50 million under the authorization of the Annual General Meeting. The program will end no later than on March 21, 2024.

After the disclosed transactions, Outokumpu holds 31,936,761 treasury shares.

Details of transactions are included as an appendix to this announcement.

Media Contacts:

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

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

Outokumpu media desk
+358 40 351 9840

SOURCE: Outokumpu Oyj