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ROBIT PLC TO START REPURCHASE OF COMPANY’S OWN SHARES

Written by Customer Service on . Posted in Public Companies.

ROBIT PLC        STOCK EXCHANGE RELEASE         18 SEPTEMBER 2023 AT 5.00 P.M.

ROBIT PLC TO START REPURCHASE OF COMPANY’S OWN SHARES

Based on the authorisation given to the Board of Directors by the Annual General Meeting on 15 March 2023, the Board of Directors of Robit Plc, at its meeting on 18 September 2023, has decided to start the repurchase of the company’s own shares. The Board of Directors has decided to acquire a maximum of 100 000 shares, which corresponds to approximately 0.5 percent of the company’s currently issued shares. The shares will be acquired using the company’s distributable unrestricted shareholders’ equity at the market price prevailing at the time of acquisition via public trading in the marketplace maintained by Nasdaq Helsinki Ltd.

The acquisition of the company’s own shares will start no earlier than 20 September 2023 and end no later than 30 November 2023. The authorisation received by the Board of Directors from the General Meeting is valid until the closing of the next Annual General Meeting, however until no later than 30 June 2024.

On 15 March 2023, the Annual General Meeting authorised the Board of Directors to resolve on the acquisition of a maximum of 2 117 990 of the company’s own shares using the company’s distributable unrestricted shareholders’ equity. The company’s own shares may be acquired for the purposes of implementing the company’s share-based incentive plans or for other purposes decided by the Board of Directors.

Robit Plc has 21 179 900 shares and votes. The company owns 13 808 shares at the time of publication of this release.

ROBIT PLC
Board of Directors

Further information:
Robit Plc
Arto Halonen, Group CEO
+358 40 028 0717
arto.halonen@robitgroup.com

Distribution:  
Nasdaq Helsinki Ltd
Key media
www.robitgroup.com

Robit is the specialist focused on high quality drilling consumables for the mining and construction markets globally to help you drill even Further. Faster. Robit strives to be the world’s number one drilling consumables company. Through our proven, high-quality Top Hammer, Down the Hole and Geotechnical products and our expert services, we deliver drilling cost savings to our customers. Robit has its own sales and service points in seven countries and an active network of distributors through which it sells to more than 100 countries. Robit’s manufacturing facilities are located in Finland, South Korea, Australia and the United Kingdom. Robit shares are listed on Nasdaq Helsinki Ltd. More information is available at www.robitgroup.com.

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