Signify starts share repurchase program of up to 1.15 million shares to cover performance share plans
30 Juillet 2020 - 8:00AM
Signify starts share repurchase program of up to 1.15 million
shares to cover performance share plans
Press Release
July 30, 2020
Signify starts share repurchase
program of up to 1.15 million shares to cover performance share
plans
Eindhoven, the Netherlands – Signify (Euronext:
LIGHT), the world leader in lighting, today announced the start of
a program to repurchase up to 1.15 million of its own shares.
Signify will use the shares to cover obligations arising from its
long-term incentive performance share plan and other employee share
plans.
The program will start on July 30, 2020 and is expected to be
completed within the third quarter. The 1.15 million shares
intended to be bought represent approximately 0.9% of the company’s
issued share capital. At the current share price, the repurchase
program represents a total value of approximately EUR 30 million.
Signify will hold the repurchased shares in treasury until employee
share awards are vested. The program will be executed by an
intermediary to allow for share repurchases in the open market
during both open and closed periods. The program will be executed
within the limits of relevant laws and regulations and the
authority granted by the Annual General Meeting of Shareholders on
May 19, 2020. Signify will update the market on the progress of the
share repurchase program in weekly press releases. This information
will also be published on the company’s website.
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For further information, please contact:
Signify Investor
RelationsRogier DierckxTel: +31 6 1138 4609E-mail:
rogier.dierckx@signify.com
Signify Corporate
CommunicationsElco van GroningenTel: +31 6 1086
5519E-mail: elco.van.groningen@signify.com
About Signify
Signify (Euronext: LIGHT) is the world leader in
lighting for professionals and consumers and lighting for the
Internet of Things. Our Philips products, Interact connected
lighting systems and data-enabled services, deliver business value
and transform life in homes, buildings and public spaces. With 2019
sales of EUR 6.2 billion, we have approximately 36,000 employees
and are present in over 70 countries. We unlock the extraordinary
potential of light for brighter lives and a better world. We have
been named Industry Leader in the Dow Jones Sustainability Index
for three years in a row. News from Signify is located at the
Newsroom, Twitter, LinkedIn and Instagram. Information for
investors can be found on the Investor Relations page.
- 20200730_Signify starts share repurchase program of up to 1.15
million shares to cover performance share plans
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