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Yara executes share buy-back programs as an integrated part of its shareholder policy. This is based on our belief that share buy-backs will contribute to a better reflection of underlying values in Yara’s share price, an improvement in earnings per share and an improved capital structure. The company has bought back shares in most years.
Last updated May 12, 2006
At Yara’s General Meeting on May 19, 2005, the Board received authorization for a period of 12 months to buy 5 percent (15,736,867) of Yara shares in the open market and from the Norwegian State.
The purchases were to be made at such times and at such prices based on the discretion of the Board. However, the purchase price per share was not to be less than NOK 10 and nor greater than NOK 300. The shares were either to be used for cancellation or as payment in business transactions.
The company entered into an agreement with the Norwegian State to the effect that the State’s shares would be redeemed on a pro-rata basis so that the State’s ownership stake remained unchanged in the event of a cancellation of the shares bought back.
The authorization was valid from May 19, 2005 until May 18, 2006.
Purchases of own shares were disclosed to the Oslo Stock Exchange and details published in the table below.
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