DECISION BY THE BOARD OF DIRECTORS OF RAMIRENT TO REPURCHASE UP TO 287,000 OWN SHARES

RAMIRENT PLC          COMPANY RELEASE    16.2.2011 AT 9:00 a.m.

 

DECISION BY THE BOARD OF DIRECTORS OF RAMIRENT TO REPURCHASE UP TO 287,000 OWN SHARES

The Board of Directors of Ramirent Plc has based on the authorisation by the Annual General Meeting held on 29 March 2010 decided on the repurchase of up to 287,000 shares of the Company. The repurchase will not commence until one week after the decision has been published with this stock exchange release.

The repurchase of the shares will be executed in accordance with the terms of the authorisation by the Annual General Meeting. The shares will be repurchased in deviation from the proportion to the holdings of the shareholders with funds in the Company’s non-restricted equity through public trading on NASDAQ OMX Helsinki Ltd at the market price of the time of the repurchase. The shares will be acquired and paid for in accordance with the rules of NASDAQ OMX Helsinki Ltd and Euroclear Finland Ltd.

The shares will be acquired to be used as part of the Company’s incentive program, as consideration in possible acquisitions or in other arrangements that are part of the Company´s business, to finance investments, or to be retained, otherwise conveyed or cancelled by the Company. There is a financial weighty reason for the repurchase, since the shares are to be repurchased through public trading and the contemplated purposes of use are in the best interests of the Company and its shareholders.

The terms and conditions were published in the stock exchange release of 26 February 2010 concerning the notice to the Annual General Meeting.

The 2010 Financial Statements documents of Ramirent Plc and the authorisations are available on the homepage www.ramirent.com, as provided in the Companies Act.

 

Vantaa 16.2.2011

RAMIRENT PLC

Board of Directors 

Further information: Jonas Söderkvist, CFO, tel. +358 20 750 3248

 

DISTRIBUTION:
NASDAQ OMX Helsinki
The main media

 

Ramirent is a leading equipment rental group delivering Dynamic Rental Solutions™ that simplify business. We serve a broad range of customers, including construction and process industries, shipyards, the public sector and households. In 2010, Group sales totalled EUR 531 million. The Group has 3,000 employees at some 378 locations in 13 countries in Northern, Central and Eastern Europe. Ramirent is listed on the NASDAQ OMX Helsinki Ltd.