Yara proposes New Buy-Back Program
April 14 2014 - 5:14AM
Dow Jones News
By Dominic Chopping
Norwegian fertilizer producer Yara International ASA (YAR.OS)
said Monday that at its upcoming AGM it will propose replacing the
existing buy-back program with a new program, authorizing the Board
to acquire up to 5% of Yara's shares before the next AGM.
MAIN FACTS:
-Shares may be purchased within a price range of NOK10 to
NOK1,000.
-The shares may either be used for cancellation or as payment in
commercial transactions.
-The company has entered 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 Friday at NOK255, valuing the company at NOK71.02
billion.
-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter:
@WSJNordics
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