DSM starts share buy-back program
Royal DSM N.V. announces that in accordance with the share buy-back program
published on 27 September 2007 the company will today, 1 October 2007, start
the first phase of this EUR 750 million program. DSM has signed a
Discretionary Management Agreement with the bank that will execute the share
buy-back.
In 2007 DSM intends to repurchase shares for a total consideration of up to
EUR 250 million. The remainder of the program will be executed in 2008,
subject to the approval of the Annual Meeting of Shareholders in March 2008.
The repurchase price will be based on the daily VWAP (Value Weighted Average
Price). Daily volumes to be repurchased will be around 10% of the daily
trading volume. In accordance with the present regulations DSM will regularly
inform the market via press releases about the progress made in the execution
of this share buy-back program.
