Corbion announces details of share buyback program
18 Aprile 2017 - 7:01AM
Corbion will execute a share buyback program of €
25 million in 2017. The share buyback program
will be executed as from today, 18 April 2017, and will run to
31 December 2017 at the latest. The share buyback will not
exceed 10% of the currently outstanding share capital, up to a
maximum of € 25 million.
The maximum number of shares to be repurchased on
any given day will not exceed 25% of the average daily trading
volume on the regulated market on which purchases are made,
calculated over the last 20 trading days before the date of
repurchase.
On 12 May 2016 the Annual General Shareholders'
Meeting (AGM) granted the Corbion Board of Management the authority
to repurchase shares up to a maximum of 10% of the issued share
capital for a period of 18 months and a renewal will be requested
at the AGM of 15 May 2017.
Corbion will update the markets on the progress of
the share buyback program weekly on Monday. This information can be
found on the Corbion website
(http://www.corbion.com/investor-relations/shareholder-information/share-buyback-program).
The first progress report will be published on
Monday 24 April 2017.
As part of its "Disciplined Value Creation"
strategy, Corbion periodically reviews its debt position. The 2017
share buyback program is in line with this commitment.
Background information:
Corbion: biobased solutions,
designed by science, powered by nature, and delivered through
dedication.
Corbion is the global market leader in lactic
acid, lactic acid derivatives and lactides, and a leading company
in emulsifiers, functional enzyme blends, minerals and vitamins.
The company delivers high performance biobased products made from
renewable resources and applied in global markets such as bakery,
meat, pharmaceuticals and medical devices, home and personal care,
packaging, automotive, coatings and adhesives. Its products have a
differentiating functionality in all kinds of consumer products
worldwide. In 2016, Corbion generated annual sales of € 911.3
million and had a workforce of 1,684 FTE. Corbion is listed on
Euronext Amsterdam. For more information: www.corbion.com
18042017 Share buyback
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This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Corbion via Globenewswire
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