April 20, 2021
AkzoNobel finalizes €300 million share buyback
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
About AkzoNobel
We’ve been pioneering a world of possibilities to bring surfaces to life for well over 200 years. As experts in making coatings, there’s a good chance you’re only ever a few meters away from one of our products. Our world class portfolio of brands – including Dulux, International, Sikkens and Interpon – is trusted by customers around the globe. We’re active in more than 150 countries and have set our sights on becoming the global industry leader. It’s what you’d expect from the most sustainable paints company, which has been inventing the future for more than two centuries.
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Safe Harbor Statement
This report contains statements which address such key issues as AkzoNobel’s growth strategy, future financial results, market positions, product development, products in the pipeline and product approvals. Such statements should be carefully considered, and it should be under-stood that many factors could cause forecast and actual results to differ from these statements. These factors include, but are not limited to, price fluctuations, currency fluctuations, developments in raw material and personnel costs, pensions, physical and environmental risks, legal issues, and legislative, fiscal, and other regulatory measures, as well as significant market disruptions such as the impact of pandemics. Stated competitive positions are based on management estimates supported by information provided by specialized external agencies. For a more comprehensive discussion of the risk factors affecting our business, please see our latest annual report.
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