Authorizations
The AGM on March 8, 2007 authorized the Board of Directors to decide on the repurchase of a maximum of 3,500,000 of the Company’s own shares. The Company’s own 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 Helsinki Stock Exchange at the market price prevailing at the time of acquisition.
The Amer Sports Board of Directors started a new share repurchase program based on the authorization given by the AGM on March 8, 2007. The company acquired its own shares in order to implement a share-based incentive plan for 2007 for the Group's key personnel.
The repurchased amount represents 0.6% Amer Sports share capital.
The AGM also authorized the Board of Directors to decide on issuing new shares and/or conveying the Company’s own shares held by the Company. New shares may be issued and the Company’s own shares held by the Company may be conveyed either against payment (“Share Issue against Payment”) or for free (“Free Share Issue”). By virtue of the authorization, the Board of Directors is entitled to decide on issuing a maximum of 7.000.000 new shares and on conveying a maximum of 6.500.000 of the Company’s own shares held by the Company. The authorization to issue shares and to convey the Company’s own shares is valid 2 years from the decision of the Annual General Meeting.