Neste Oil Corporation
Stock Exchange Release
24 April 2014 at 3.45 p.m. (EET)
Neste Oil to start purchases of company shares
Neste Oil's Board of Directors has decided to exercise the buyback authorization issued by the Annual General Meeting on 3 April 2014 to purchase company's own shares. Under the authorization, the Board is authorized to decide the purchase of and/or take as security a maximum of 2,000,000 company shares using the company's unrestricted equity. The number of shares is equivalent to approximately 0.78% of the company's total shares.
Shares may be purchased in one or more lots. The purchase price shall be at least the lowest price paid for Neste Oil shares in regulated trading at the time of purchase and no more than the highest price paid for company shares in regulated trading at the time of purchase. Derivative, share lending, or other agreements that are normal within the framework of capital markets may take place in connection with the buyback of company shares, in accordance with legislative and regulatory requirements and at a price determined by the market. The authorization allows the Board to decide to purchase shares otherwise than in proportion to shareholders' current holdings (directed buyback).
Shares purchased in this way can be used as consideration in possible acquisitions or in other arrangements that are part of the company's business, to finance investments, as part of the company's incentive program, or be retained, conveyed, or cancelled by the company.
Neste Oil Corporation
Director, Corporate Communications
Further information: Mr Matti Hautakangas, General Counsel, tel. +358 (0)50 458 5350
Neste Oil in brief
Neste Oil Corporation is a refining and marketing company concentrating on low-emission, high-quality traffic fuels. The company produces a comprehensive range of major petroleum products and is the world's leading supplier of renewable diesel. Neste Oil had net sales of EUR 17.5 billion in 2013 and employs around 5,000 people, and is listed on NASDAQ OMX Helsinki.
Neste Oil is included in the Dow Jones Sustainability World Index and the Ethibel Pioneer Investment Register, and has featured in The Global 100 list of the world's most sustainable corporations for many years. Forest Footprint Disclosure (FFD) has ranked Neste Oil as one of the best performers in the oil & gas sector. Further information: www.nesteoil.com