Tikkurila Oyj to acquire its own shares for payment of Board fees
(Thomson Reuters ONE) -
Tikkurila Oyj Stock Exchange Release May 5, 2010 at 3.30 pm (CEE+1)
Tikkurila Oyj will start a process of acquiring its own shares according to the
resolutions mentioned in the Interim Report Q1 published on April 29, 2010. The
shares will be purchased from the market by May 13, 2010 for use as payment for
the annual fees of the Board Members.
The annual fee of the Board will be paid as a combination of the company's
shares and cash in such a manner that 40 percent of the annual fee is paid with
the company's shares purchased from the market, and 60 percent is paid in cash.
Fees per meeting will be paid in cash. The annual fee of the Board totals EUR
180, 000 of which EUR 72,000 will be paid as shares. The number of shares to be
acquired will be determined on the basis of the market price quoted at the time
of the repurchase.
On April 28, 2010 the Board of Directors decided to acquire own shares and to
grant those shares in order to effect the payment of Board members' fees. This
resolution was based on the authorization granted by the Shareholders' Meeting.
Tikkurila Oyj
Board of Directors
For further information, please contact:
Jukka Havia, CFO
Mobile +358 50 355 3757, jukka.havia(at)tikkurila.com
Tikkurila provides consumers, professionals and the industry with user-friendly
and environmentally sustainable solutions for protection and decoration.
Tikkurila is a strong regional player that aims to be the leading paint company
in the Nordic area and Eastern Europe including Russia. - Tikkurila inspires you
to color your life.
www.tikkurila.com
[HUG#1412141]
Unternehmensinformation / Kurzprofil:
Datum: 05.05.2010 - 14:31 Uhr
Sprache: Deutsch
News-ID 20317
Anzahl Zeichen: 0
contact information:
Town:
Vantaa
Kategorie:
Business News
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