On October 19, Yara purchased 285,000 own shares at an average price of NOK 67.67 per share. After this transaction Yara holds 285,000 own shares.
The transaction is part of a buy-back program, which opens for buyback of up to 5% of Yara's shares (15,972,130 shares) in the market, and is valid until December 15, 2005. The purchase price shall be not less than NOK 25 or more than NOK 75. The intention is to cancel the shares.
Yara's largest shareholder, the Norwegian State, has committed to sell a proportional part of its shares, leaving the State's 36.21% ownership unchanged. The compensation to the State will be equal to the price achieved in the market, plus an interest of NIBOR + 1%, calculated from the dates of acquisition of the corresponding shares.
The decision on cancellation must be made by Yara's General Meeting.
Any further buy-back transactions under this program will be disclosed at the Oslo Stock Exchange, and on www.yara.com
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Contact |
Egil Hogna, Investor Relations
Telephone (+47) 24 15 71 66
Cellular (+47) 90 187 865
E-mail egil.hogna@yara.com
Arne Cartridge, Media Relations
Telephone (+47) 24 15 73 01
Cellular (+47) 47 900 900
E-mail arne.cartridge@yara.com
Yara International ASA is the world's leading supplier of mineral fertilizers with particular strength in nitrogen based fertilizers. Yara has a local presence in 50 countries worldwide. Yara sells more than 20 million tonnes of mineral fertilizers in more than 120 countries. Yara offers fertilizers meeting the nutrient needs of local crops supported by agronomic advice to make farming more profitable and agriculture more sustainable. Yara has a strong position in industrial markets in Europe as a supplier of nitrogen based chemicals and is the leading supplier of liquid CO2.