Heerlen, NL, 04 Nov 2016 08:00 CET
Royal DSM, a global science-based company active in health, nutrition and materials, today announces that it intends to repurchase up to 1,700,000 ordinary shares, starting on 4 November 2016, in order to cover its commitments under existing management and personnel option plans. Based on the closing price of the DSM share on Euronext Amsterdam on 3 November 2016 this would be equivalent to approximately €93 million.
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 8% of the daily trading volume on the open market, within a bandwidth of 5-10% per day. This share repurchase program is anticipated to be concluded in Q4 2016. The maximum number of shares to be repurchased under this program represents approximately 0.9% 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.