(IN BRIEF) Outokumpu, a leading stainless steel producer, has successfully completed its share repurchase program, acquiring a total of 426,341 shares across multiple trading venues at an average price of EUR 3.98 per share, totaling EUR 1,697,261.85. The buyback program, initially announced in November 2023, permitted the repurchase of up to 11 million shares with a budget of up to EUR 50 million and is set to conclude by March 21, 2024. With these transactions completed, Outokumpu now holds 31,354,927 treasury shares, reinforcing its commitment to enhancing shareholder value and optimizing its capital structure.
(PRESS RELEASE) HELSINKI, 6-Feb-2024 — /EuropaWire/ — Outokumpu, a global leader in sustainable stainless steel, announced the successful completion of its share repurchase program on February 5, 2024, in accordance with the following details:
Trading Venue:
Total:
(*All figures rounded to two decimals)
Outokumpu had previously announced its share buyback program, allowing for a maximum of 11 million shares to be repurchased, on November 29, 2023. This program received approval from the Board of Directors, operating under the authorization of the Annual General Meeting, with a total buyback value of up to EUR 50 million. The program is set to conclude no later than March 21, 2024.
Following the disclosed transactions, Outokumpu now holds a total of 31,354,927 treasury shares.
Detailed information regarding the specific transactions is available in the appendix accompanying 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 Oyj
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