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Stay on Corporate siteStock exchange release, March 5, 2012, at 1.35 p.m. EET
KONE Corporation's Annual General Meeting held on March 5, 2012 authorized the Board of Directors to repurchase the company's own shares. On the basis of this authorization, KONE Corporation's Board of Directors has decided to commence the possible repurchasing of shares at the earliest on March 13, 2012. The repurchasing of shares can continue until otherwise announced.
Altogether no more than 25,570,000 shares may be repurchased, of which no more than 3,810,000 are to be class A shares and 21,760,000 class B shares, taking into consideration the provisions of the Companies Act regarding the maximum amount of own shares that the Company is allowed to possess. KONE Corporation currently has 5,796,350 class B shares in its possession.
The minimum and maximum consideration for the shares to be
purchased is determined for both class A and class B shares on the
basis of the trading price for class B shares determined on the
NASDAQ OMX Helsinki Oy on the time of purchase.
About KONE
KONE is one of the global leaders in the elevator and escalator
industry. The company has been committed to understanding the needs
of its customers for the past century, providing industry-leading
elevators, escalators and automatic building doors as well as
innovative solutions for modernization and maintenance. The
company's objective is to offer the best People Flow® experience by
developing and delivering solutions that enable people to move
smoothly, safely, comfortably and without waiting in buildings in
an increasingly urbanizing environment. In 2011, KONE had annual
net sales of EUR 5.2 billion and on average 35,000 employees. KONE
class B shares are listed on the NASDAQ OMX Helsinki Ltd in
Finland.
www.kone.com
For further information, please contact:
Jukka Ala-Mello, Secretary to the Board, tel. +358 204 75
4226
Sender:
KONE Corporation
Jukka Ala-Mello
Secretary to the Board
Anne Korkiakoski
Executive Vice President
Marketing and Communications