Royal DSM has announced the repurchase of 200,000 ordinary shares to cover commitments for interim stock dividend, equivalent to approximately €25 million based on the closing price of the DSM share on Euronext Amsterdam on August 6, 2020.
The share buyback will be executed within the limitations of the authority granted to the managing board by the annual general meeting (AGM) on May 8, 2020.
Previously: DSM, Avril Launch Joint Venture: Olatein.
The total number of shares to be repurchased under this program represents approximately 0.11% of ordinary shares issued.
DSM has signed a discretionary management agreement with a bank to commence the execution on its behalf and to make trading decisions under the agreement independently of DSM.
In accordance with regulations DSM will inform the market about the progress made in the execution of this program through weekly press releases.
The share repurchase program is anticipated to be completed in Q3 2020.
