Yara call for AGM and new buy-back program
Apr 25, 2005
As part of the existing share buy-back program Yara has bought back approximately 3.0 million shares. The Norwegian State has committed itself to participate on a pro-rata basis, so that the State's ownership remains constant at 36.21%. This will be implemented by the redemption of approximately 1.7 million shares today owned by the Norwegian State. The price for the 1.7 million shares will be equal to the average price paid for the 3 million shares bought back in the market with the addition of interest. After the cancellation/redemption of in total approximately 4.7 million shares, Yara will have 314.7 million shares.
Furthermore, the Board proposes that the existing buy-back program is replaced by a new program, authorizing the Board to acquire up to 5% of Yara's shares within the next 12 months. Shares may be purchased within a price range of NOK 10 to NOK 300. The shares may either be used for cancellation or as payment in business transactions. The company has entered into a new agreement with the Norwegian State to the effect that the State's shares will be redeemed on a pro-rata basis so that the State's ownership is unchanged in the event of a cancellation of the shares bought back.
The complete notice of the Annual General Meeting will be distributed to Yara's registered shareholders and is also available on Yara's website
Egil Hogna, Investor Relations
Telephone (+47) 24 15 71 66
Cellular (+47) 90 187 865
Arne Cartridge, Media Relations
Telephone (+47) 24 15 73 01
Cellular (+47) 47 900 900
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.