HELSINKI, Finland--(BUSINESS WIRE)--Regulatory News:
Sanitec Corporation (STO:SNTC):
As stated in a stock exchange release of Sanitec Corporation on 18 July 2014, the Board of Directors of Sanitec Corporation has resolved to implement a share repurchase programme. The purpose of the programme is to ensure that the company is able to meet its obligations arising from Sanitec’s share based incentive plan 2014 for its key employees and to deliver the shares to participants of the incentive plan, as approved by the Annual General Meeting 2014.
The programme is implemented in accordance with the Commission Regulation (EC) No 2273/2003 of 22 December 2003 (the "EC-Regulation"). Further conditions are contained in the stock exchange release of Sanitec Corporation released on 18 July 2014.
Sanitec Corporation has repurchased its own shares as follows:
Date: 21 August 2014 Share: SNTC Exchange transaction: Buy Number of shares repurchased: 35,000 Average price paid: SEK 81.3299 Highest price paid: SEK 82.00 Lowest price paid: SEK 78.25 Aggregate price paid: SEK 2,846,546.50
All the above trades took place in public trading on NASDAQ OMX Stockholm.
After the above trades, Sanitec held 112,500 own shares in total. The total number of shares in Sanitec Corporation amounts to 100,000,000.
About Sanitec – “Home of the Bathroom”
Sanitec is the leader in bathroom ceramics in Europe. We have a unique portfolio of some of the most well-known brands with deep roots in the European fixtures markets, strategically positioned to address local markets. We care passionately about people’s needs when it comes to complete bathroom concepts, providing products that stand for guaranteed quality, high level of innovation and attractive design. Stable relationships with key stakeholders in the value chain and our unique brand strengths foster our leading position as well as the loyalty and trust amongst our customers, our network of installers and the end users of our products.
Sanitec operates an integrated European group with an unparalleled local presence to provide the best value when it comes to bathroom products. In 2013 net sales amounted to EUR 702 million. Our production network includes 18 production facilities throughout Europe and currently Sanitec employs approximately 6,200 people. Our head office is located in Helsinki, Finland. The shares in Sanitec Corporation are traded on NASDAQ OMX Stockholm under the symbol “SNTC”.
For more information about Sanitec, please visit www.sanitec.com.
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