Royal Philips to Buy Back Up to 2 Million Shares
May 19 2021 - 10:46AM
Dow Jones News
By Chris Wack
Royal Philips said Wednesday it will repurchase up to two
million shares to cover certain of its obligations arising from its
long-term incentive and employee stock purchase plans.
The company said that at the current share price, the shares
represent an amount of up to EUR91 million ($111.3 million).
Royal Philips said the repurchases will be executed through one
or more individual forward transactions, to be entered into in the
course of the second quarter of 2021, in accordance with the market
abuse regulation and within the limits of the authorization granted
by its general meeting of shareholders on May 6.
Philips expects to take delivery of the shares in 2023.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
May 19, 2021 10:31 ET (14:31 GMT)
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