Stock Exchange Releases
At its meeting on 12 December 2008, the Board of Directors of Tulikivi Corporation has decided continue to buy back Tulikivi shares. At this stage, a maximum of 100,000 Tulikivi Series A shares will be acquired, representing about 0.27 per cent of the company’s shares outstanding. The decision is based on the authorization granted by the Annual General Meeting on 17 April 2008.
The shares will be obtained for use as consideration in acquisitions or other structural arrangements, for the implementation of a share-based incentive scheme or the payment of
share bonuses, or otherwise conveyed or invalidated.
Share buyback will commence no earlier than 22 December 2008 and will end by 30 March 2009. The company holds at present 60,000 own A shares representing about 0.16 per cent of the company´s shares outstanding.
The shares will be acquired in public trading on NASDAQ OMX Helsinki Exchange at the going price at the time of purchase in accordance with Section 5.3 of the rules of NASDAQ OMX Helsinki and other provisions concerning share buyback. Due to the low average liquidity of share turnover, the company’s Board of Directors has decided, as provided for in Section 3, Article 5 of Commission Regulation (EC) No. 2273/2003, to deviate from the procedure laid out in Section 2, Article 5 of the Regulation such that share buyback can exceed the 25 per cent limit, but will not exceed 50 per cent of the average daily volume.
Juuka, 12 December 2008
Board of Directors
For additional information, contact: Tulikivi Corporation, 83900
Juuka, tel. +358 207 636 000,
– Chairman of the Board Matti Virtaala
– Managing Director Heikki Vauhkonen
Distribution: NASDAQ OMX Ltd. and principal media