DSM announces repurchase of shares to cover existing option plans and stock dividend
DSM has signed a Discretionary Management Agreement with the bank that will execute the repurchase. The repurchase price will be based on the daily VWAP (Volume Weighted Average Price). Volumes to be repurchased will be on average 5% of the daily trading volume on the open market, within a bandwidth of 2-8% per day. This share repurchase program is anticipated to continue into Q3 2017. The total number of shares to be repurchased under this program represents approximately 1.6% of ordinary shares issued.
In accordance with regulations DSM will inform the market about the progress made in the execution of this program through weekly press releases.