Akzo Nobel N.V.
December 28, 2021
AkzoNobel share buyback (December 20, 2021 - December 24, 2021)
AkzoNobel (AKZA; AKZOY) has repurchased 262,062 of its own common shares in the period from December 20, 2021, up to and including December 24, 2021, at an average price of €93.04 per share. The consideration of the repurchase was €24.38 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 8,455,879 ordinary shares for a total consideration of €851.53 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
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Safe Harbor Statement
This report contains statements which address such key issues as AkzoNobel's growth strategy, future financial results, market positions, product development, products in the pipeline and product approvals. Such statements should be carefully considered, and it should be understood that many factors could cause forecast and actual results to differ from these statements. These factors include, but are not limited to, price fluctuations, currency fluctuations, developments in raw material and personnel costs, pensions, physical and environmental risks, legal issues, and legislative, fiscal, and other regulatory measures, as well as significant market disruptions such as the impact of pandemics. Stated competitive positions are based on management estimates supported by information provided by specialized external agencies. For a more comprehensive discussion of the risk factors affecting our business, please see our latest annual report.