Telia Aqua - Acquisition of Own Shares
4/5/2001 9:14
The Board of Telia Aqua Marine Ltd. announced that during its meeting of the 3 May 2001 it was decided to proceed with implementation of its resolution for buy-back of own shares as approved by the EGM of the 2 May 2001.
Special Resolution
The Board was authorised to acquire either by private agreement or from the stockmarket, own shares of the company within a period of 12 months from approval of this resolution.
The maximum number of shares acquired as aforementioned (including shares which the company already holds in its portfolio and shares acquired by an entity acting on the company’s behalf) be determined by the Board, but not exceeding at any time 10% of the issued share capital of the company or 25% of the average price of shares traded during the 30 days preceding such purchase, whichever is the least.
The price of shares acquired by the above method to be determined by the Board but not to exceed 5% of the average share price of the 5 trading sessions prior to such acquisition, without a minimum purchase price.
Such shares to be held for a period of time at the discretion of the Board but not to exceed two years from their acquisition.
Special Resolution
The Board was authorised to acquire either by private agreement or from the stockmarket, own shares of the company within a period of 12 months from approval of this resolution.
The maximum number of shares acquired as aforementioned (including shares which the company already holds in its portfolio and shares acquired by an entity acting on the company’s behalf) be determined by the Board, but not exceeding at any time 10% of the issued share capital of the company or 25% of the average price of shares traded during the 30 days preceding such purchase, whichever is the least.
The price of shares acquired by the above method to be determined by the Board but not to exceed 5% of the average share price of the 5 trading sessions prior to such acquisition, without a minimum purchase price.
Such shares to be held for a period of time at the discretion of the Board but not to exceed two years from their acquisition.
