YARIY Yara International ASA (PK)

   DOW JONES NEWSWIRES 
 

Norwegian fertilizer company Yara International ASA (YAR.OS) said Wednesday that at its Annual General Meeting on May 10 it will seek authorization for a new share buy-back program.

 
   MAIN FACTS: 

-The board proposes that the existing buy-back program is replaced by a new program, authorizing the board to acquire up to 5% of Yara's shares before the next AGM.

-Shares may be purchased within a price range of NOK10 to NOK1,000.

-The company will enter into a new agreement with the Norwegian State to redeem shares on a pro-rata basis so that the State's ownership is unchanged in the event of a cancellation of the shares bought back.

-Shares closed Wednesday at NOK277.80.

-By Dominic Chopping; Dow Jones Newswires; +46-8-5451-3093; dominic.chopping@dowjones.com