DSM announces repurchase of shares to cover existing option plans and stock dividend
February 22 2016 - 2:00AM
Royal DSM, a global science-based
company active in health, nutrition and materials, today
announces
that it intends to repurchase 3,200,000 ordinary
shares, starting on 22 February 2016, in order to cover its
commitments under existing management and personnel option plans
(2,500,000) and shares for stock dividend as part of the
final dividend 2015 (700,000). Based on the closing price of the
DSM share on Euronext Amsterdam on 19 February 2016 this would be
equivalent to approximately €140 million.
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 Q2 2016. The total number of shares to be repurchased
under this program represents approximately 1.76% 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.
Statement pursuant to art. 5:25a
of the Dutch Financial Supervision Act
DSM also announces that The Netherlands is its "Home Member State",
as required by article 5:25a (2) of the Dutch Financial Supervision
Act. This article obliges all listed companies to publicly announce
which country is their "home member state" (as referred to in
article 5:25a(1) sub c of the Dutch Financial Supervision Act) for
purposes of regulation of their disclosure obligations under the EU
Transparency Directive. Pursuant to section 5:25a of the Dutch
Financial Supervision Act Royal DSM has notified the Autoriteit
Financiële Markten (AFM).
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 €10 billion with approximately 25,000
employees. The company is listed on Euronext Amsterdam. More
information can be found at www.dsm.com.
For more
information:
DSM
Corporate Communications Herman Betten
tel. +31 (0) 45 5782017
e-mail media.contacts@dsm.com |
DSM
Investor Relations Dave Huizing
tel. +31 (0) 45 5782864
e-mail investor.relations@dsm.com |
Press Release-pdf
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: DSM N.V. via Globenewswire
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