AkzoNobel share buyback (March 22, 2021 – March 26, 2021)
AkzoNobel (AKZOY) repurchased 230,800 shares from March 22 to March 26, 2021, at an average price of €94.63, totaling €21.84 million. This is part of a €300 million share buyback program announced on October 21, 2020, with 2,965,041 shares repurchased so far for €261.13 million. The program aims to enhance shareholder value and is expected to be completed in the first half of 2021, with shares planned for cancellation. The buyback complies with regulatory guidelines and will have ongoing updates provided to the market.
- Share buyback program of €300 million enhances shareholder value.
- 2,965,041 shares repurchased to date indicates strong capital return strategy.
- None.
March 30, 2021
AkzoNobel share buyback (March 22, 2021 – March 26, 2021)
AkzoNobel (AKZA; AKZOY) has repurchased 230,800 of its own common shares in the period from March 22, 2021, up to and including March 26, 2021, at an average price of
This is part of a repurchase program announced on October 21, 2020. AkzoNobel intends to repurchase common shares up to a value of
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 Relations | Investor Relations |
| T +31 (0)88 – 969 7833 | T +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.
.
Attachments
FAQ
What is the AkzoNobel share buyback amount?
How many shares has AkzoNobel repurchased so far?
What was the average price of shares repurchased by AkzoNobel?
When is the AkzoNobel share buyback program expected to complete?
