DSM announces repurchase of shares to cover existing option plans and stock dividend
(Thomson Reuters ONE) -
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 DSM Investor Relations
Herman Betten Dave Huizing
tel. +31 (0) 45 5782017 tel. +31 (0) 45 5782864
e-mail media.contacts(at)dsm.com e-mail investor.relations(at)dsm.com
Press Release-pdf:
http://hugin.info/130663/R/1987928/729803.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: DSM N.V. via GlobeNewswire
[HUG#1987928]
Unternehmensinformation / Kurzprofil:
Datum: 22.02.2016 - 08:00 Uhr
Sprache: Deutsch
News-ID 452125
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