Share buy-back by Cargotec
By Euan Youdale11 March 2011
Cargotec's board of directors has decided to repurchase the company's own shares.
It folliows authorisation at the annual general meeting on 8 March 2011 and will start on 23 March at the earliest.
The maximum number of own shares to be acquired will be less than 10% of the company's share capital and total voting rights. This corresponds to 6,400,000 shares including 952,000 class A and 5,448,000 class B shares. Currently, there are 2,959,487 class B shares in the company's possession.
Class B shares will be purchased at public trading on NASDAQ OMX Helsinki Ltd. at the market price. Class A shares will be purchased outside the stock exchange at the price equivalent to the average price of class B shares paid on NASDAQ OMX Helsinki Ltd. on the purchase date.