DSM initiates second phase of share buy-back program
Royal DSM N.V., the global Life Sciences and Materials Sciences company
headquartered in the Netherlands, announces that on 5 May 2008 the company
will start the second phase of the share buy-back program of EUR 750 million
announced on 27 September 2007.
DSM has signed a Discretionary Management Agreement with the bank that will
execute the share buy-back. DSM intends to repurchase shares for a total
consideration of approximately EUR 250 million. 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. In addition DSM may halt the buy-back at any time, if
a major acquisition needs financing.
Full press release (PDF: 19 Kb)
