DSM resumes repurchase of shares to cover existing option plans
27 2월 2014 - 4:15PM
Royal DSM, the global Life Sciences and Materials Sciences
company, announced today that it intends to repurchase 2,500,000
ordinary shares, starting on 27 February 2014, 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 26 February 2014 this would be equivalent to
approximately €120 million.
This share repurchase program is anticipated to
continue into Q2 2014 and is the second and final part of a program
to repurchase 5 million shares in total, which was announced in
September 2013. On 21 January 2014 DSM concluded the first part of
this program under which 2,500,000 ordinary shares were repurchased
for a total consideration of €139 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% of
the daily trading volume on Euronext Amsterdam, within a bandwidth
of 2-8% per day.
In accordance with the present regulations DSM
will inform the market about the progress made in the execution of
this program through weekly press releases.
DSM - Bright Science.
Brighter Living.(TM)
Royal DSM is a global 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. DSM delivers
innovative solutions that nourish, protect and improve performance
in global markets such as food and dietary supplements, personal
care, feed, medical devices, automotive, paints, electrical and
electronics, life protection, alternative energy and bio-based
materials. DSM's 24,500 employees deliver annual net sales of
around €10 billion. The company is listed on NYSE Euronext. More
information can be found at www.dsm.com.
For more
information:
DSM Corporate Communications Herman Betten
tel. +31 (0) 45 5782017
e-mail media.relations@dsm.com |
DSM Investor Relations Dave Huizing
tel. +31 (0) 45 5782864
e-mail investor.relations@dsm.com |
Press release-pdf
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: DSM N.V. via Globenewswire
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