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Acting under the granted authorization by the Shareholders General Meeting the Management Board of AS Tallink Grupp decided on 05.12.2007 to initiate the share buyback program. Tallink plans to buy back maximum of up to 5 817 040 shares or up to the total aggregate consideration of EUR 7 million (EEK 109.5 million).
The share buyback period started on 10 December 2007 and will end on 17 January 2008.
During the period of 22.12.2007 - 04.01.2008 the following buyback transactions have been made:
Share - TAL1T
| Date |
Amount of
shares bought |
Average price
per share |
Total Cost |
| |
|
EUR |
EEK |
EUR |
EEK |
| 27.12.2007 |
50 000 |
1.050 |
16,42893 |
52 500 |
821 447 |
| 03.01.2008 |
100 000 |
1.055 |
16,50716 |
105 500 |
1 650 716 |
| 04.01.2008 |
150 000 |
1.063 |
16,63703 |
159 495 |
2 495 554 |
| |
|
|
|
|
|
| Total for period |
300 000 |
1.058 |
16,5591 |
317 495 |
4 967 717 |
| Bought before this notice |
1 575 000 |
1.051 |
16,4389 |
1 654 750 |
25 891 211 |
| Accumulated under buyback program |
1 875 000 |
1,052 |
16,4581 |
1 972 245 |
30 858 929 |
After these transactions AS Tallink Grupp owns 1 875 000 own shares, which is 0,278% of the total share capital.
Under the share buyback program up to EUR 5,03 million (EEK 78,6 million) remains to be used or up to 3 942 040 shares remains to be bought back.
This share buyback program is being implemented in accordance with the provisions of the European Commission's regulation no. 2273/2003 of December 2003, which protects listed companies against violation of insider legislation in connection with share buybacks.
Tallink has appointed Hansapank as lead manager of the program, who under a separate agreement with Tallink will buy back shares on behalf of Tallink.
Hansapank will be independent on its trading decisions irrespective of and without influence from Tallink as to the timing of the purchases as well as carry out the buyback according to the regulations and within the set framework of the programme.
Janek Stalmeister
Financial Director
AS Tallink Grupp
Tel: +372 6409 800
Fax: +372 6409 810
E-mail: janek.stalmeister@tallink.ee
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