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Akzo Nobel to commence share buyback program

25-Apr-2007

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Akzo Nobel has announced that it will commence a EUR 1.6 billion open market share buyback program on May 3, 2007. At the current share price, this represents approximately 10% of the common shares outstanding.

Subject to shareholder approval at AGM, the repurchased shares will be cancelled. ING Wholesale Banking will execute the open market repurchase program, which is expected to be completed by the end of 2007. The repurchase price will be based on the daily VWAP (Volume Weighted Average Price) and the program will be in full compliance with the Safe Harbor trading and volume restrictions of the Market Abuse Directive.

https://www.chemeurope.com/en/news/64070/akzo-nobel-to-commence-share-buyback-program.html

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