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Akzo Nobel to Begin Share Buyback Program18 Mar 2008 -
Akzo Nobel will start a share repurchase program of up to EUR1 billion, as a first tranche of the previously announced EUR3 billion share buyback program. At the current share price, this first tranche represents approximately 7.5 percent of the common shares outstanding. Subject to shareholder approval, Akzo Nobel intends to cancel the repurchased shares. The repurchase price will be based on the daily VWAP (Volume Weighted Average Price) and the program will fully comply with the Safe Harbor trading and volume restrictions of the Market Abuse Directive. Akzo Nobel will provide weekly progress updates to the market.
ING Wholesale Banking will carry out this EUR1 billion open market repurchase program.
Additional information
Akzo Nobel nv
Amsterdam, Netherlands
Company
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