Edition:
India

Yara Announces Share Buy-Backs


Friday, 18 Oct 2019 

Oct 18 (Reuters) - Yara International ASA ::REG-YARA ANNOUNCES SHARE BUY-BACKS.TOTAL BUYBACK AND REDEMPTION WILL AMOUNT TO APPROXIMATELY 0.8% OF SHARES OUTSTANDING, EQUIVALENT TO APPROXIMATELY NOK 800 MILLION AT TODAY'S SHARE PRICE.YARA'S TARGETED CAPITAL STRUCTURE IS A MID- TO LONG-TERM NET DEBT/EBITDA RANGE OF 1.5-2.0 AND A NET DEBT/EQUITY RATIO BELOW 0.60.BUY-BACKS ARE PART OF A PROGRAM AUTHORIZED BY ANNUAL GENERAL MEETING HELD 7 MAY 2019, WHICH AUTHORIZED YARA TO BUY BACK UP TO 5% (13,620,131 SHARES) OF ITS SHARE CAPITAL BEFORE ITS 2020 ANNUAL GENERAL MEETING.INTENDS TO EXECUTE BUY-BACKS THROUGH AN EXTERNALLY ISSUED BANK MANDATE, TO ALLOW INDEPENDENT EXECUTION.PLANS TO BUY BACK 0.5% OF ITS OUTSTANDING SHARES BY END OF 2019.