Treasury shares

Find out information on treasury shares, share repurchases and Board's authorizations by the Annual General Meeting to repurchase or issue shares. 
Page last updated: 04 Jan 2024

Current ownership of treasury shares

On November 29, 2023, Outokumpu launched a share buyback program of a maximum of 11 million shares. The program commenced on December 1, 2023, and ends no later than on March 21, 2024.

Read more on the share buyback program 2023-2024

Follow the progress of the share buyback program in the news section

Recent transfers of treasury shares

On July 6, 2023 Outokumpu transferred shares of Outokumpu held in treasury as Conversion Shares. In June 2023, Outokumpu received a conversion notice pursuant to which Bonds amounting to EUR 200,000 are converted to a total of 67,916 shares of Outokumpu. After the transfer, Outokumpu holds a total of 23,041,290 own shares.

On February 21, 2023, based on the decision of the Board of Directors of Outokumpu Oyj, a total of 891,710 Outokumpu’s shares have been transferred for delivery to the personnel participating in the Performance Share Plan’s plan period 2020–2022 and Restricted Share Pool’s plan periods 2020–2022, 2021–2023 and 2022–2024. After the transfer, Outokumpu holds a total of 16,420,562 own shares.

On February 18, 2022 Outokumpu transferred a total of 137,760 Outokumpu’s shares net of taxes as share rewards. 90,740 shares net of taxes were delivered to the personnel participating in the plan 2019–2021 and 47,020 shares net of taxes to the personnel participating in the plan 2021–2023 of the Restricted Share Pool. The share rewards were announced on February 8, 2022. Outokumpu uses its treasury shares for the share rewards, which means that the total number of shares of the company does not change. After the transfer, Outokumpu holds a total of 4,164,711 own shares.

On December 20, 2021 Outokumpu transferred a total of 10,950 Outokumpu’s shares have been transferred for delivery to the management from the Restricted Share Pool 2019–2021. The share reward was announced on December 17, 2021. Outokumpu uses its treasury shares for the share reward, which means that the total number of shares of the company does not change. After the transfer, Outokumpu holds a total of 4,302,471 own shares.

On February 18, 2021 Outokumpu transferred a total of 58,815 Outokumpu’s shares for delivery to the personnel participating in the plan 2018-2020 of the Restricted Share Pool. The share rewards were announced on February 4, 2021. Outokumpu uses its treasury shares for the share rewards, which means that the total number of shares of the company does not change. After the transfer, Outokumpu holds a total of 4,313,421 own shares.

On December 14, 2020, Outokumpu transferred a total of 178,350 shares for delivery to the management from the Matching Share Plan with share rewards announced on December 10. After the transfer, Outokumpu holds a total of 4,372,236 shares.

On February 24, 2020, a total of 49,147 Outokumpu shares have been delivered to the personnel participating in the plan 2017-2019 of the Restricted Share Pool (RSP) program. Outokumpu originally informed about the share rewards in a stock exchange release on February 5, 2020. After the share reward Outokumpu holds a total of 4,550,586 own shares.

On December 20, 2019, the number of the treasury shares held by Outokumpu has decreased by 384,928 shares. The reduction of the treasury shares is due to the share rewards paid on December 20, 2019. After the change, Outokumpu holds 4,599,733 treasury shares.

On September 13, 2019, the number of the treasury shares held by Outokumpu has decreased by 2,877 shares. The reduction of the treasury shares is due to the share rewards paid today. After the change, Outokumpu holds 4,984,661 treasury shares.

On May 9, 2019, based on the decision of the Board of Directors of Outokumpu Oyj, a total of 81,709 Outokumpu’s shares have been delivered to the personnel participating in the plan 2016–2018 of Performance Share Plan (PSP) and Restricted Share Plan (RSP) programs.

 

Share repurchases

The latest share purchases of Outokumpu's own shares occurred in winter 2023-2024, in winter 2022-2023, in May 2018, in February 2017, and in May 2016 based on the authorizations given by the Annual General Meetings. 

Read more on the share buyback program 2023-2024

Read more on the share buyback program 2022-2023

Read more on the share repurchase in May 2018

Read more on the share repurchase in February 2017 

Read more on the share repurchase in May 2016

 

Board's authorization by the AGM 2023 to decide on the repurchase of the company’s own shares

The Annual General Meeting 2023 authorized the Board of Directors to resolve to repurchase a maximum of 45,000,000 of Outokumpu’s own shares, currently representing approximately 9.85% of Outokumpu’s total number of registered shares. The own shares may be repurchased pursuant to the authorization only by using unrestricted equity. The price payable for the shares shall be based on the price of the company’s shares on the day of repurchase in public trading or otherwise at the price prevailing on the market.

The Board of Directors is authorized to decide how the own shares will be repurchased. The own shares may be repurchased in deviation from the proportional shareholdings of the shareholders (directed repurchase). Shares may also be acquired outside public trading. In connection with the acquisition of the company’s shares, derivative, share lending, or other agreements that are normal within the framework of capital markets may take place in accordance with legislative and regulatory requirements. The repurchased own shares may be held by the company, cancelled or transferred further. The aggregate number of Outokumpu’s own shares held by the company and its subsidiaries may not, however, exceed 10% of the total number of registered shares. The authorization will be in force until the end of the next Annual General Meeting, however expiring at the latest on May 31, 2024.

 

Board's authorization by the AGM 2023 to decide on the issuance of shares as well as other special rights entitling to shares

The Annual General Meeting 2023 authorized the Board of Directors to resolve to issue a maximum of 45,000,000 shares through one or several share issues and/or by granting special rights entitling to shares, as specified in Chapter 10, Section 1, of the Finnish Companies Act, excluding option rights to Outokumpu’s management and personnel under an incentive plan. 45,000,000 shares currently represent approximately 9.85% of Outokumpu’s total number of registered shares.

The Board of Directors resolves upon all other terms and conditions of the share issue and of the issue of special rights entitling to shares. The Board of Directors has the authority to resolve upon the issue of shares and special rights in deviation of the pre-emptive subscription right of the shareholders (directed issue). The authorization covers both the issuance of new shares and the transfer of own shares. The authorization is valid until the end of the next Annual General Meeting, however expiring at the latest on May 31, 2024.