Arnhem, the Netherlands, July 23, 2007 — Akzo Nobel (Euronext Amsterdam: AKZ; Nasdaq: AKZOY) has informed the market that the share buyback program has so far resulted in the repurchase of 14,963,033 common shares. Akzo Nobel had repurchased 5.18% of its outstanding capital by the end of last week.
line with the launch of its EUR 1.6 billion share buyback program on May 3, 2007, the company has repurchased 2,000,000 common shares in the period July 16 until July 20, 2007. Shares were repurchased at an average price of EUR 63.71 for a total amount of EUR 127.4 million.
total number of shares repurchased under this program to date is 14,963,033 common shares for a total consideration of EUR 921.7 million.
completion of the share buyback program is expected by the end of 2007.