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Basware Corporation's Board of Directors has resolved to start repurchases of the company's own shares. A maximum of 400 000 shares will be acquired which represents approximately 3.49% of all Basware shares. The decision is based on the authorization granted by the Annual General Meeting on February 14, 2008 to purchase a maximum of 1 146 812 shares. The purchases will start on October 23, 2008 at the earliest, and they will end by March 31, 2009.
The shares may be repurchased in order to finance or carry out acquisitions or other business transactions, in order to develop the Company's capital structure, to improve the liquidity of the Company's shares, to be disposed for other purposes, or to be cancelled. Basware will use its free liquid to purchase the shares, which will decrease the amount of distributable funds. The repurchases will be carried out through public trading on the Nasdaq OMX Helsinki, whereby the shares will be purchased in accordance with the rules and regulations of the Nasdaq OMX Helsinki and the Finnish Central Securities Depository.
In Espoo, Finland, October 14, 2008
BASWARE CORPORATION Board of Directors For more information, please contact CEO Ilkka Sihvo, Basware Corp., Tel. +358 9 8791 7251 or +358 40 501 8251
This announcement is originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
