Manitou buys back 2.8% of its share capital from Toyota Industries Corporation

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Manitou BF announced today (29 July) that Manitou BF and Toyota Industries Corporation have signed an agreement relating to the purchase by Manitou BF of a block of 1,120,000 of its own shares at a unit negotiated price of €13.38 (US$14.87) and representing approximately 2.8% of its share capital.

These shares have been purchased from Toyota Industries Corporation in an off-market block trade transaction for a total negotiated amount of €14,985,600 (US$16,620,500).

The purchase of these shares follows the termination of the industrial partnerships between the two companies which occurred in December 2014.

The buyback effectively means that TICO is no longer one of Manitou’s shareholders.

July 29, 2016

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Tom is editor of ivtinternational.com and iVT magazine. During his 20 year career in journalism Tom has worked for a diverse range of titles including Men's Health and Cosmopolitan. He also edits iVT's UKi Media & Events stablemate Traffic Technology International.

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