Repurchases and transfers of own shares
|
17-20 March 2008 Number of B-shares repurchased |
350,000 |
|
Total cost of the repurchased B-shares |
EUR 4,833,128 |
|
20 March 2008 Number of B-shares transferred |
25,164 |
|
Transfer price per share |
EUR 14.09 |
|
Total transfer price of the shares |
EUR 354,482.75 |
|
No. of treasury shares after 20 March 2008 |
324,836 |
|
5 March 2009 Number of B-shares transferred |
44,806 |
|
Transfer price per share |
EUR 11.97 |
|
Total transfer price of the shares |
EUR 536,417.43 |
|
No. of treasury shares after 5 March 2009 |
280,030 |
|
1 March 2010 Number of B-shares transferred |
65,606 |
|
Transfer price per share |
EUR 16,47 |
|
Total transfer price of the shares |
EUR 1 080 563,62 |
|
No. of treasury shares after 1 March 2010 |
214,424 |
|
11-18 Aug. 2010 Number of B-shares repurchased
Daily acquisitions specified in the table below |
300,000 |
|
Average acquisition price per share |
EUR 15.2566 |
|
Total acquisition price |
EUR 4,576,979.80 |
|
No. of treasury shares after 18 August 2010 |
514,424 |
|
1 Sept. 2010 Own B-shares returned free of consideration, by virtue of terms of Share-based Incentive Plan 2007 |
2,230 |
|
No. of treasury shares after 1 September 2010 |
516,654 |
|
1 March 2011 Number of B-shares transferred |
102,900 |
|
Transfer price per share |
EUR 16.7488 |
|
Total transfer price of the shares |
EUR 1,723,451.52 |
|
No. of treasury shares after 1 March 2011 |
413,754 |
Effective authorisations of the Board
Orion’s Board of Directors has an authorisation by the Annual General Meeting 2010 to decide on acquisition of shares in the Company and on a share issue in which shares held by the Company can be conveyed. The authorisation to acquire shares is valid for 18 months and the authorisation to issue shares for five years from the respective decision taken by the Annual General Meeting.
The terms and conditions of the authorisations are explained in more detail in the Corporate Governance section.
Authorisation to acquire shares
The Board of Directors is authorised to decide on acquisition of no more than 300,000 Orion Corporation B shares. The shares acquired can be kept, cancelled or further conveyed by the Company.
Authorisation to issue shares
The Board of Directors is authorised to decide on conveyance of no more than 500,000 Orion Corporation B shares held by the Company. Such shares held by the Company can be conveyed either against or without payment.
Other authorisations
The Board of Directors is not authorised to increase the share capital or to issue bonds with warrants or convertible bonds or stock options.
Conveyance of treasury shares 2008–2011
On 20 March 2008, altogether 25,164 Orion Corporation B-shares held by the Company were transferred as a share bonus for 2007 to key persons employed by the Group and belonging to the Share-based Incentive Plan of the Orion Group.
On 5 March 2009, altogether 44,806 Orion Corporation B-shares held by the Company were transferred as a share bonus for 2008 to key persons employed by the Group and belonging to the Share-based Incentive Plan of the Orion Group.
On 1 March 2010, altogether 65,606 Orion Corporation B-shares held by the Company were transferred as a share bonus for 2009 to key persons employed by the Group and belonging to the Share-based Incentive Plan of the Orion Group.
On 1 March 2011, altogether 102,900 Orion Corporation B-shares held by the Company were transferred as a share reward for 2010 to key persons employed by the Group and belonging to the Share-based Incentive Plan of the Orion Group.
Repurchase of 300,000 own B-shares 11-18 August 2010
Based on the authorisation by the AGM 2010, the Board of Directors of Orion Corporation decided on 18 May 2010 to repurchase 300,000 B-shares starting from 11 August 2010, the day after the publication of the Interim Report 1-6/2010.
The shares were acquired during 11-18 August 2010 in accordance with the terms of the authorisation for use as part of the 2010 long-term incentive plan for the Orion Group’s key persons.
Specification of the daily share acquisitions during 11-18 August 2010
|
Date |
Amount |
Average price
per share, € |
Total cost € |
Total number of
B-shares held
by the company |
|
11.8.2010 |
53 000 |
15.1573 |
803 336.90 |
267 424 |
|
12.8.2010 |
100 000 |
15.1919 |
1 519 190.00 |
367 424 |
|
13.8.2010 |
36 000 |
15.2167 |
547 801.20 |
403 424 |
|
16.8.2010 |
36 000 |
15.3387 |
552 193.20 |
439 424 |
|
17.8.2010 |
60 000 |
15.3714 |
922 284.00 |
499 424 |
|
18.8.2010 |
15 000 |
15.4783 |
232 174.50 |
514 424 |
Repurchase of 350,000 own B-shares 17-20 March 2008
Based on the authorisation by the AGM held on 2 April 2007, Orion's Board of Directors decided on 6 August 2007 on a repurchase of up to 350,000 B-shares for the company’s incentive plan, for conveyance to the persons included in the plan.
The share buybacks started on 17 March 2008 and were completed on 20 March 2008. The daily announcements on the transactions can be found on the website of the NASDAQ OMX Helsinki.
According to the authorisation, the shares can be acquired for the purpose of developing the capital structure of the company, for using them for financing possible corporate acquisitions or other business arrangements of the company, for financing capital expenditure, as part of the company’s incentive plans, or otherwise conveying or invalidating them.
The treasury shares were acquired in public trade on the Stock Exchange in a proportion not corresponding to the shareholders’ holdings. The shares have been acquired at the price of the acquisition moment quoted in public trade on the Stock Exchange, using funds in the company’s non-restricted equity.
Updated
Dec 8th 2011