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Royal DSM announces repurchase of shares
14
Mar '17
Courtesy: DSM
Courtesy: DSM
Royal DSM, a global science-based company, has announced that it intends to repurchase 2,900,000 ordinary shares in order to cover its commitments under existing management and personnel option plans (1,700,000) and shares for stock dividend as part of the final dividend 2016 (1,200,000). This is expected to be equivalent to approximately €185 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 5 per cent of the daily trading volume on the open market, within a bandwidth of 2-8 per cent per day.

The 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 per cent of ordinary shares issued.

Royal DSM is a science-based company active in health, nutrition and materials. By connecting its unique competences in life sciences and materials sciences DSM is driving economic prosperity, environmental progress and social advances to create sustainable value for all stakeholders simultaneously. (KD)

Fibre2Fashion News Desk – India


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