Stock Exchange Releases
At its meeting on 22 July 2008, the Board of Directors of Tulikivi
Corporation has decided to initiate share buyback. At this stage,
a maximum of 60,000 Tulikivi Series A shares will be acquired,
representing about 0.16 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 01 August 2008 and
will end by 30 November 2008. The company does not at present hold
any of its own shares.
The shares will be acquired in public trading on OMX Nordic
Exchange at the going price at the time of purchase in accordance
with Section 5.3 of the rules of OMX Nordic Exchange 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, 22 July 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: OMX Nordic Exchange Helsinki Oy and principal media