HELSINKI, Feb. 5, 2025 /PRNewswire/ -- UPM-Kymmene Corporation Stock Exchange Release (Other information disclosed according to the rules of the Exchange) 5 February 2025 at 09:50 EET
UPM commences a share buy-back program
The Board of Directors of UPM-Kymmene Corporation has decided to commence a repurchase of UPM's own shares ("buyback program") on the basis of the authorization given by the Annual General Meeting held on 4 April 2024. The main terms of the buyback program are:
- The maximum number of shares to be repurchased is 6,000,000, corresponding to approximately 1.1% of the total number of shares. The maximum monetary amount to be used for the program is EUR 160 million.
- The shares will be repurchased in public trading on Nasdaq Helsinki otherwise than in proportion to the existing shareholdings of UPM's shareholders, at the market price quoted at the time of purchase on Nasdaq Helsinki Ltd, using the Company's non-restricted shareholders' equity.
- The shares shall be repurchased to optimize UPM's capital structure through the reduction of capital.
- The share buyback program shall commence on 10 February 2025 at the earliest, and end by 31 May 2025, at the latest. Repurchased shares will be cancelled after the program has ended.
The repurchases will be carried out in accordance with the so-called safe harbor rules referred to in Article 5 of the EU Market Abuse Regulation (EU N:o 596/2014). UPM has appointed a third-party broker as the lead manager for the buyback program. The broker will make trading decisions independently, without influence from UPM.
UPM, Media Relations
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UPM
We deliver renewable and responsible solutions and innovate for a future beyond fossils across six business areas: UPM Fibres, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Communication Papers and UPM Plywood. As the industry leader in responsibility, we are committed to the UN Business Ambition for 1.5°C and the science-based targets to mitigate climate change. We employ 15,800 people worldwide and our annual sales are approximately EUR 10.3 billion. Our shares are listed on Nasdaq Helsinki Ltd. UPM Biofore - Beyond fossils. www.upm.com
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