DSM initiates second phase of share buyback program
Heerlen,NL,27-Apr-2007 08:15 CET
Royal DSM N.V. announces that in accordance with the share buy-back program
announced on 27 September 2006 the company will today, 27 April 2007,
start the second phase of this EUR 750 million program. DSM has signed a
Discretionary Management Agreement with the bank that will execute the share
buyback.
In 2007 DSM intends to repurchase shares for a total
consideration of EUR 508 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 buyback program.
