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AkzoNobel share buyback (February 22, 2021 – February 26, 2021)

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AkzoNobel (AKZOY) announced a share buyback program, repurchasing 139,400 shares from February 22 to February 26, 2021, at an average price of €86.03, totaling €11.99 million. This buyback is part of a broader initiative to buy back up to €300 million worth of shares, with a total of 2,250,932 shares repurchased for €195.76 million to date. The program, managed by a third party, aims to cancel the repurchased shares and is conducted within the framework of regulations approved by the Annual General Meeting. Updates on this program will be communicated regularly.

Positive
  • Share buyback program demonstrates a commitment to enhancing shareholder value.
  • Total shares repurchased to date suggests confidence in company performance.
Negative
  • None.

March 2, 2021

AkzoNobel share buyback (February 22, 2021 – February 26, 2021)

AkzoNobel (AKZA; AKZOY) has repurchased 139,400 of its own common shares in the period from February 22, 2021, up to and including February 26, 2021, at an average price of €86.03 per share. The consideration of the repurchase was €11.99 million.

This is part of a repurchase program announced on October 21, 2020. AkzoNobel intends to repurchase common shares up to a value of €300 million. The total number of shares repurchased under this program to date is 2,250,932 ordinary shares for a total consideration of €195.76 million.

The share buyback is due to be completed in the first half of 2021. The company has engaged a third party to manage the program and perform transactions on its behalf. It is intended that the shares will be cancelled following repurchase.

The share buyback is implemented within the limitations of the authority granted by the Annual General Meeting (AGM) on April 23, 2020. The share repurchase program is conducted within the parameters prescribed by the Market Abuse Regulation 596/2014 and the safe harbor parameters prescribed by the Commission Delegated Regulation 2016/1052 for share buybacks.

In accordance with regulations, AkzoNobel will continue to inform the market about the progress made in the execution of this program through weekly updates and at https://www.akzonobel.com/for-investors/shares/share-buyback-overview

About AkzoNobel

We’ve been pioneering a world of possibilities to bring surfaces to life for well over 200 years. As experts in making coatings, there’s a good chance you’re only ever a few meters away from one of our products. Our world class portfolio of brands – including Dulux, International, Sikkens and Interpon – is trusted by customers around the globe. We’re active in more than 150 countries and have set our sights on becoming the global industry leader. It’s what you’d expect from the most sustainable paints company, which has been inventing the future for more than two centuries.

Not for publication – for more information

Media RelationsInvestor Relations
T +31 (0)88 – 969 7833T +31 (0)88 – 969 7856
Contact: Joost Ruempol
Media.relations@akzonobel.com
Contact: Lloyd Midwinter
Investor.relations@akzonobel.com

 

Safe Harbor Statement
This report contains statements which address such key issues as AkzoNobel’s growth strategy, future financial results, market positions, product development, products in the pipeline and product approvals. Such statements should be carefully considered, and it should be under-stood that many factors could cause forecast and actual results to differ from these statements. These factors include, but are not limited to, price fluctuations, currency fluctuations, developments in raw material and personnel costs, pensions, physical and environmental risks, legal issues, and legislative, fiscal, and other regulatory measures, as well as significant market disruptions such as the impact of pandemics. Stated competitive positions are based on management estimates supported by information provided by specialized external agencies. For a more comprehensive discussion of the risk factors affecting our business, please see our latest annual report.
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FAQ

What is the recent share buyback amount by AkzoNobel (AKZOY)?

AkzoNobel repurchased 139,400 shares for a total consideration of €11.99 million.

What is the purpose of AkzoNobel's share buyback program?

The share buyback program aims to enhance shareholder value by repurchasing up to €300 million worth of shares.

How many shares has AkzoNobel repurchased to date?

As of now, AkzoNobel has repurchased a total of 2,250,932 shares for €195.76 million.

When is AkzoNobel's share buyback program expected to be completed?

The share buyback program is due to be completed in the first half of 2021.

Who is managing AkzoNobel's share buyback program?

A third party has been engaged to manage and perform transactions for the share buyback program on behalf of AkzoNobel.

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