HEERLEN, Netherlands, March 10, 2022 /PRNewswire/ -- Royal DSM, a global purpose-led science-based company, today announces the repurchase, starting 10 March 2022, of 1,330,000 ordinary shares: 600,000 ordinary shares to cover commitments under share-based compensation plans and 730,000 ordinary shares to cover commitments for stock dividend as part of the final dividend 2021. The share repurchase is equivalent to approximately €205 million based on the closing price of the DSM ordinary share on Euronext Amsterdam on 9 March 2022.
The share buyback will be executed within the limitations of the authority granted to the Managing Board by the Annual General Meeting (AGM). The total number of ordinary shares to be repurchased under this program represents approximately 0.8% of ordinary shares issued.
DSM has signed a Discretionary Management Agreement with a bank to commence the execution of the share repurchase program 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 Q2 2022.
DSM
Royal DSM is a global, purpose-led company in Health, Nutrition & Bioscience, applying science to improve the health of people, animals and the planet. DSM's purpose is to create brighter lives for all. DSM's products and solutions address some of the world's biggest challenges while simultaneously creating economic, environmental and societal value for all its stakeholders - customers, employees, shareholders, and society at large. The company was founded in 1902 and is listed on Euronext Amsterdam. More information can be found at www.dsm.com.
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For more information
DSM Media Relations Gareth Mead tel. +31 (0) 45 5782420 email media.contacts@dsm.com | DSM Investor Relations Dave Huizing tel. +31 (0) 45 5782864 email investor.relations@dsm.com |
Forward-looking statements
This press release may contain forward-looking statements with respect to DSM's future (financial) performance and position. Such statements are based on current expectations, estimates and projections of DSM and information currently available to the company. DSM cautions readers that such statements involve certain risks and uncertainties that are difficult to predict and therefore it should be understood that many factors can cause actual performance and position to differ materially from these statements. DSM has no obligation to update the statements contained in this press release, unless required by law. The English language version of the press release is leading.
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