AkzoNobel share buyback

Aug 12, 2021 | News

AkzoNobel has repurchased 217,621 of its own common shares in the period from August 2, 2021, up to and including August 6, 2021, at an average price of €104.31 per share. The consideration of the repurchase was €22.70 million.

This is part of a repurchase program announced on February 17, 2021. AkzoNobel intends to repurchase common shares up to a value of €1 billion. The total number of shares repurchased under this programme to date is 3,362,496 ordinary shares for a total consideration of €349.72 million.

The share buyback is due to be completed in the first quarter of 2022. The company has engaged a third party to manage the programme and perform transactions on its behalf. It is intended that the shares will be cancelled following repurchase.

This share buyback will be implemented within the limitations of the authority granted by the Annual General Meeting (AGM) on April 22, 2021. The share repurchase programme will be conducted within the parameters prescribed by the Market Abuse Regulation 596/2014 and the safe harbour parameters prescribed by the Commission Delegated Regulation 2016/1052 for share buybacks.