BRIEF-Outokumpu launches a share buyback program of a maximum of 11 million shares

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- Outokumpu Oyj OUT1V.HE:

  • INSIDER INFORMATION: OUTOKUMPU LAUNCHES A SHARE BUYBACK PROGRAM OF A MAXIMUM OF 11 MILLION SHARES

  • HAS APPROVED A SHARE BUYBACK PROGRAM OF UP TO EUR 50 MILLION UNDER AUTHORIZATION OF ANNUAL GENERAL MEETING.

  • PROGRAM WILL COMMENCE AT EARLIEST ON DECEMBER 1, 2023, AND END NO LATER THAN ON MARCH 21, 2024

  • OUTOKUMPU - THROUGH SHARE BUYBACK PROGRAM, OUTOKUMPU SEEKS TO MITIGATE AND MANAGE DILUTIVE IMPACT OF COMPANY'S OUTSTANDING CONVERTIBLE BONDS

  • SHARE REPURCHASES WILL BE FUNDED BY USING FUNDS FROM UNRESTRICTED EQUITY

  • HAS OPTION TO TERMINATE PROGRAM DURING BUYBACK PERIOD

  • OUTOKUMPU- REPURCHASED SHARES WILL BE INITIALLY HELD BY OUTOKUMPU AS TREASURY SHARES AND MAY BE USED TO MEET ITS OBLIGATIONS UNDER CONVERTIBLE BONDS

  • SHARE BUYBACK PROGRAM IS EXPECTED TO BE CARRIED OUT IN FULL AND HAVE A MAXIMUM EUR 50 MILLION IMPACT ON NET DEBT

Source text for Eikon: ID:nWkrbq2nND

Further company coverage: OUT1V.HE


((Reuters.Briefs@thomsonreuters.com;))

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