Share capital and treasury shares
Valmet has one series of shares in which each share carries one vote. Valmet's share capital history is presented below.
Share capital
| Number of shares | Share capital | ||
| 2019 |
No changes. |
149,864,619 | EUR 100 million |
| 2018 |
No changes. |
149,864,619 | EUR 100 million |
| 2017 |
No changes. |
149,864,619 | EUR 100 million |
| 2016 |
No changes. |
149,864,619 | EUR 100 million |
| 2015 |
No changes. |
149,864,619 | EUR 100 million |
| 2014 |
No changes. |
149,864,619 | EUR 100 million |
|
Commencement of trading of Valmet share on January 2, 2014 |
149,864,619 | EUR 100 million |
Valmet Oyj's treasury shares
Valmet currently holds 365,593 own shares.
| Date | Action | Treasury shares after the action |
|
June 26, 2020 |
On June 25 and 26, 2020 a total of 4,681 Valmet shares have been returned free of consideration to Valmet Oyj according to the terms and conditions of the long-term incentive plan 2018-2020. Originally, the shares were transferred to the participants after the 2018 and 2019 performance periods of the plan. |
370,274 shares |
|
March 16, 2020 |
In a directed share issue, a total of 152,122 Valmet’s treasury shares have been conveyed without consideration to the participants of the long-term incentive plan for the discretionary period 2019, in accordance with the terms and conditions of the plan. |
365,593 shares |
|
February 28, 2020 |
A total of 1,619 Valmet shares have been returned free of consideration to Valmet Oyj according to the terms and conditions of the long-term incentive plan 2018-2020 |
517,715 shares |
|
February 2020 |
Valmet repurchased 270,000 own shares. The average price for purchased shares was EUR 23.9020 per share. The total price for the purchases was EUR 6,453,541. |
516,096 shares |
|
November 7, 2019 |
A total of 472 Valmet shares have been returned free of consideration to Valmet Oyj according to the terms and conditions of the long-term incentive plan 2018-2020. |
246,096 shares |
|
August 22, 2019 |
A total of 389 Valmet shares were returned free of consideration to Valmet Oyj according to the terms and conditions of the long-term incentive plan 2018-2020. |
245,624 shares |
|
May 24, 2019 |
A total of 1,208 Valmet shares were returned free of consideration to Valmet Oyj according to the terms and conditions of the long-term incentive plan 2015-2017. |
245,235 shares |
|
March 15, 2019 |
In the share issue a total of 200,707 Valmet's treasury shares have been conveyed without consideration to the participants of the long-term share-based incentive plan for the discretionary period 2018, in accordance with the terms and conditions of the plan. |
244,027 shares |
|
March 15, 2019 |
A total of 2,428 Valmet shares were returned free of consideration to Valmet Oyj according to the terms and conditions of the long-term incentive plan 2015-2017. |
444,734 shares |
|
February 2019 |
Valmet repurchased 194 600 own shares. The average price for purchased shares was EUR 21.4157 per share. The total price for the purchase was EUR 4,167,503. |
442,306 shares |
|
January 17, 2019 |
A total of 907 Valmet shares were returned free of consideration to Valmet Oyj according to the terms and conditions of Long-term incentive plan 2015-2017. Originally, the shares were transferred to the participants after the 2017 performance period of the plan. |
247,706 shares |
|
February 2018 |
Valmet repurchased 246,400 own shares. The average price for purchased shares was EUR 17.3788 per share. The total price for the purchase was EUR 4,289,078. |
246,799 shares |
|
April 30, 2014 |
Valmet conveyed a total of 13,911 Valmet shares held by the company to 25 key Valmet employees included in the group’s share-based incentive program 2011–2013.
|
399 shares |
| April 2, 2014 |
Valmet repurchased 14,310 own shares. The average price for purchased shares was EUR 7.5880 per share. The total price for the purchase was EUR 108,584.28.
|
14,310 shares |
Treasury shares and Board authorizations
Valmet Oyj’s Annual General Meeting on March 21, 2019 authorized Valmet’s Board of Directors to decide on the repurchase of the Company's own shares in one or several tranches. The maximum number of shares to be repurchased shall be 10,000,000 shares, which corresponds to approximately 6.7 percent of all the shares in the Company.
The Company's own shares may be repurchased otherwise than in proportion to the shareholdings of the shareholders (directed repurchase). Company's own shares may be repurchased using the unrestricted equity of the Company at a price formed on a regulated market on the stock exchange main list upheld by Nasdaq Helsinki Ltd on the date of the repurchase.
Company's own shares may be repurchased for reasons of developing the Company's capital structure, financing or carrying out acquisitions, investments or other business transactions, or for the shares to be used in an incentive scheme.
The Board of Directors decides on all other terms related to the repurchasing of the Company's own shares.
Valmet Oyj’s Annual General Meeting authorized Valmet’s Board of Directors to decide on the issuance of shares as well as the issuance of special rights entitling to shares pursuant to Chapter 10(1) of the Finnish Limited Liability Companies Act in one or several tranches. The issuance of shares may be carried out by offering new shares or by transferring treasury shares held by Valmet Oyj. Based on this authorization, the Board of Directors may decide on a directed share issue in deviation from the shareholders’ pre-emptive rights, and on the granting of special rights subject to the conditions mentioned in the Finnish Limited Liability Companies Act.
The maximum number of new shares which may be issued by the Board of Directors based on this authorization shall be 15,000,000 shares, which corresponds to approximately 10.0 percent of all the shares in Valmet Oyj. The maximum number of treasury shares which may be issued shall be 10,000,000 shares, which corresponds to approximately 6.7 percent of all the shares in the Company.
The Board of Directors is furthermore authorized to issue special rights pursuant to Chapter 10(1) of the Finnish Limited Liability Companies Act entitling their holder to receive new shares or treasury shares for consideration. The maximum number of shares which may be issued based on the special rights shall be 15,000,000 shares, which corresponds to approximately 10 percent of all the shares in Company. This number of shares shall be included in the aggregate numbers of shares mentioned in the previous paragraph.
The new shares and treasury shares may be issued for consideration or without consideration.
The Board of Directors of Valmet Oyj was also authorized to resolve on issuing treasury shares to the Company without consideration. The maximum number of shares which may be issued to Valmet Oyj shall be 10,000,000 shares when combined with the number of shares repurchased based on an authorization. Such number corresponds to approximately 6.7 percent of all shares in the Company. The treasury shares issued to the Company shall not be taken into account in the limits set out in the preceding paragraphs.
The Board of Directors may decide on all other terms of the issuance of shares and special rights entitling to shares pursuant to Chapter 10(1) of the Finnish Limited Liability Companies Act. The Board of Directors may use this authorization, for example, for reasons of developing the Company’s capital structure, in financing or carrying out acquisitions, investments or other business transactions, or for the shares to be used in incentive schemes.
The authorizations shall remain in force until the next Annual General Meeting, and they cancel the authorizations granted in the Annual General Meeting of March 21, 2018.