(PRESS RELEASE) AMSTERDAM, 21-Sep-2021 — /EuropaWire/ — AkzoNobel (AKZA; AKZOY), pioneering a world of possibilities to bring surfaces to life for well over 200 years, has announced an update on its share buyback program for the period between September 13, 2021 and September 17, 2021. The company has repurchased 274,000 of its own common shares in the period from September 13, 2021, up to and including September 17, 2021, at an average price of €100.87 per share. The consideration of the repurchase was €27.64 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 program to date is 4,866,997 ordinary shares for a total consideration of €504.20 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 program 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 program will be 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 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
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SOURCE: Akzo Nobel N.V.