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Treasury shares

At the Annual General Meeting in 2017, the Board of Directors was granted authorisation to buy back up to 10% of the current share capital. The authorisation is limited to realising the existing incentive schemes for employees (share options granted and employee share programme) and to aquire own shares for amortisation. Buy-back of shares must be implemented at the latest by the Annual General Meeting in 2018. The table below shows Borregaard's share buy-backs, treasury shares sold related to incentive schemes and the number of treasury shares at year end:


Year Buy-backs
No of shares bought
Incentive schemes
No of shares sold
Treasury shares
No of shares at year-end
2012 0 0 0
2013 1,270,000 0 1,270,000
2014 1,817,051 2,309,168 777,883
2015 108,372 392,375 493,880
2016 162,355 312,855 343,380
2017 300,000 0 484,065