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AkzoNobel (AKZA; AKZOY) has repurchased 193,550 of its own ordinary shares in the period from April 12, 2021, up to and including April 16, 2021, at an average price of €98.43 per share. The consideration of the repurchase was €19.05 million.
This finalizes a €300 million share buyback announced on October 21, 2020, and due to be completed in the first half of 2021. The total number of shares repurchased under the program was 3,361,162 ordinary shares at an average price of €89.25 per share. It is intended that the shares will be cancelled.
AkzoNobel will soon start a €1 billion share buyback, as announced on February 21, 2021, to be completed in Q1 2022.
The share buyback was implemented within the limitations of the authority granted by the Annual General Meeting (AGM) on April 23, 2020. The share repurchase program was conducted within the parameters prescribed by the Market Abuse Regulation 596/2014 and the safe harbor parameters prescribed by the Commission Delegated Regulation 2016/1052 for share buybacks.
In accordance with regulations, AkzoNobel has informed the market about the progress made in the execution of this program through weekly updates and at https://www.akzonobel.com/en/investors/share-buyback-overview
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