Amer Sports said it would begin buying back up to 1 million shares of its own shares for an executive compensation plan as authorized by its board of directors at the company's annual general meeting March 10, 2010.
The company, which owns the Arc'teryx, Atomic, Mavic, Precor, Salomon, Suunto and Wilson brands, will use the shares to implement share-based incentive plans for 2011 and 2012 for the group's key personnel. The repurchases will start at the earliest on Feb. 23, 2011 and end on Sept. 9, 2011 at the latest. The amount to be acquired is maximum one (1) million shares.
The shares shall be repurchased otherwise than in proportion to the holdings of the shareholders by using the non-restricted equity through public trading on the NASDAQ OMX Helsinki Stock Exchange at the prevailing market price at the time of acquisition. The shares shall be repurchased and paid for in accordance with the rules of NASDAQ OMX Helsinki and Euroclear Finland Ltd.
