AkzoNobel share buyback (March 8, 2021 – March 12, 2021)
AkzoNobel (AKZOY) has conducted a share buyback from March 8 to March 12, 2021, repurchasing 96,257 shares at an average price of €90.15, totaling €8.68 million. This buyback is part of a larger program initiated on October 21, 2020, with a total value of up to €300 million. To date, 2,541,089 shares have been repurchased for approximately €221.32 million. The program will conclude in the first half of 2021, with shares intended for cancellation following repurchase.
- Robust share buyback program totaling €300 million demonstrates confidence in company’s financial health.
- The recent buyback supports shareholder value by reducing the number of outstanding shares, potentially increasing EPS.
- The opportunity cost of allocating €8.68 million to buybacks might limit investment in growth or innovation.
March 16, 2021
AkzoNobel share buyback (March 8, 2021 – March 12, 2021)
AkzoNobel (AKZA; AKZOY) has repurchased 96,257 of its own common shares in the period from March 8, 2021, up to and including March 12, 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/en/investors/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.
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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 total amount AkzoNobel plans to spend on the share buyback program?
How many shares has AkzoNobel repurchased to date?
What was the average price per share repurchased by AkzoNobel during the recent buyback?
When is the AkzoNobel share buyback program expected to be completed?
Will the repurchased shares be canceled?
