Chemical
AkzoNobel starts €300 million share buyback
It is intended that the shares will be cancelled following repurchase and completion is due in the first half of 2021
- By ICN Bureau
| December 07, 2020
AkzoNobel today starts to repurchase common shares up to a value of €300 million, launching the share buyback announced on October 21, 2020. Completion is due 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 will be implemented within the limitations of the authority granted by the Annual General Meeting (AGM) on April 23, 2020. 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.
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