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AkzoNobel (AKZA; AKZOY) has repurchased 225,468 of its own common shares in the period from January 25, 2021, up to and including January 29, 2021, at an average price of €84.61 per share. Theconsideration of the repurchase was €19.08 million.
This is part of a repurchase program announced on October 21, 2020. AkzoNobel intends torepurchase common shares up to a value of €300 million. The total number of shares repurchasedunder this program to date is 1,501,244 ordinary shares for a total consideration of €131.53 million.
The share buyback is due to be completed in the first half of 2021. The company has engaged a third party to manage the program and perform transactions on its behalf. It is intended that the shares will be cancelled following repurchase.
The share buyback is implemented within the limitations of the authority granted by the Annual General Meeting (AGM) on April 23, 2020. The share repurchase program is 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 will continue to inform the market about the progress made in the execution of this program through weekly updates and at https://www.akzonobel.com/for-investors/shares/share-buyback-overview
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