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Vacon Oyj (HEL:VAC1V) Vacon Plc, Stock Exchange Release, 23 October 2008 at 12.15 p.m. EET:
Vacon Corporation's Board of Directors has decided to exercise the authorization it was given by the Annual General Meeting of Shareholders on 26 March 2008 to acquire the company's own shares. Vacon Corporation intends to acquire a maximum of 60,000 own shares, corresponding to approximately 0.4 % of all the company shares. Under the authorization given by the AGM a maximum of 1,529,500 shares may be acquired. Vacon Corporation currently holds 43,312 of the company's own shares.
The company's own shares will be acquired using the company's unrestricted equity at the market price at the time of trading in public trading on the NASDAQ OMX Helsinki exchange at the share price on the day of trading, in accordance with the rules and regulations concerning the purchase of a company's own shares in public trading.
The shares will be acquired to develop the capital structure, to be used as part of the company's incentive schemes for key personnel or to pay salaries or bonuses, to finance any company acquisitions or other business arrangements, or for other purposes to be decided by the Board of Directors.
Purchase of the shares will begin at the earliest on 31 October 2008.
VACON PLC
For more information please contact: Mr Vesa Laisi, President and CEO, phone: +358 (0)40 8371 510 Mr Mika Leppänen, CFO and Vice President, Finance & Control, phone: +358 (0)40 8371 235
Distribution Helsinki Exchanges Financial Supervision Authority Main media
This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
