HEERLEN, The Netherlands, August 14, 2017 /PRNewswire/ --
Royal DSM, a global science-based company active in health, nutrition and materials, today announces that it intends to repurchase 1,600,000 ordinary shares, starting on 14 August 2017, in order to cover its commitments under existing management and personnel option plans (1,200,000) and shares for stock dividend as part of the interim dividend 2017 (400,000). Based on the closing price of the DSM share on Euronext Amsterdam on 11 August 2017 this would be equivalent to approximately EUR100 million.
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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 the open market, within a bandwidth of 2-8% per day. This share repurchase program is anticipated to continue into Q4 2017. The total number of shares to be repurchased under this program represents approximately 0.9% of ordinary shares issued.
In accordance with 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 and its associated companies deliver annual net sales of about EUR10 billion with approximately 25,000 employees. The company is listed on Euronext Amsterdam. More information can be found at http://www.dsm.com.
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