Wärtsilä to start the repurchase of its own shares
The Board of Directors of Wärtsilä Corporation has decided to use the authorisation given by the Annual General Meeting held on 4 March 2021 to repurchase the company’s own shares. The maximum number of shares to be repurchased in one or more instalments is 1,700,000 shares, corresponding to approximately 0.29% of the total number of the company’s shares, which is 591,723,390. The shares will be repurchased using the company’s unrestricted equity. The shares will be repurchased through public trading on Nasdaq Helsinki at the market price prevailing at the time of repurchase.
The share repurchases will commence on 26 April 2021 at the earliest and end on 17 May 2021 at the latest. The weighty financial reason for the repurchases is that they are to be used for pay-outs under the share-based incentive programmes of Wärtsilä Corporation.
The Board of Directors is authorised to resolve to repurchase a maximum of 57,000,000 Wärtsilä’s own shares. The authorisation is valid until the close of the next Annual General Meeting, however no longer than for 18 months from 4 March 2021.
Wärtsilä Corporation
Board of Directors
For further information, please contact:
Kari Hietanen
Executive Vice President, Corporate Relations and Legal Affairs
Tel. +358 10 709 5609
kari.hietanen@wartsila.com
Emilia Rantala
Manager, Investor Relations
Tel. +358 10 709 1114
emilia.rantala@wartsila.com
Wärtsilä in brief
Wärtsilä is a global leader in smart technologies and complete lifecycle solutions for the marine and energy markets. By emphasising sustainable innovation, total efficiency and data analytics, Wärtsilä maximises the environmental and economic performance of the vessels and power plants of its customers. In 2020, Wärtsilä’s net sales totalled EUR 4.6 billion with approximately 18,000 employees. The company has operations in over 200 locations in more than 70 countries around the world. Wärtsilä is listed on Nasdaq Helsinki.
www.wartsila.com