Yara AGM and new buy-back program
14.04.2010 | Globenewswire Europe
Oslo (2010-04-14): Yara International ASA will hold its Annual General Meeting on Tuesday 11 May 18:00 CET at Bygdøy allé 2, Oslo. The Board asks the General Meeting to authorize a new share buy-back program.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 1,000. The shares may either be used for cancellation or as payment in business transactions. The company will enter 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 Nomination Committee proposes re-election of Øivind Lund as Chairman of the Board and Bernt Reitan, Elisabeth Harstad and Leiv L. Nergaard as Board members.
Hilde Merete Aasheim is proposed as new Board member. Hilde Merete Aasheim is Executive Vice President and member of the corporate management board of Norsk Hydro ASA being responsible for the Primary Metal business area.
The complete notice of the Annual General Meeting will be distributed to Yara´s registered shareholders and is also available on Yara´s website
http://www.yara.com/investor_relations/index.aspx
Contact
Torgeir Kvidal, Investor Relations
Telephone ( 47) 24 15 72 95
Cellular ( 47) 91 339 832
E-mail torgeir.kvidal@yara.com
Asle Skredderberget, Media Relations
Cellular ( 47) 41 44 36 10
E-mail asle.skredderberget@yara.com
Yara International ASA is the world´s leading chemical company that converts energy, natural minerals and nitrogen from the air into essential products for farmers and industrial customers. As the number one global supplier of mineral fertilizers, we help provide food for a growing world population. Our industrial product portfolio includes environmental protection agents that prevent air pollution. Yara´s global workforce of 8000 employees represents the great diversity and knowledge that enables Yara to remain a leading performer in the industry. www.yara.com
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)