Signify starts share repurchase program of up to 850,000 shares to cover performance share plans
24 Febbraio 2022 - 8:00AM
Signify starts share repurchase program of up to 850,000 shares to
cover performance share plans
Press Release
February 24, 2022
Signify starts share repurchase program of up
to 850,000 shares to cover
performance share plans
Eindhoven,
the Netherlands
– Signify (Euronext: LIGHT), the world leader in
lighting, today announced the start of a program to repurchase up
to 850,000 of its own shares. Signify will use the shares to cover
obligations arising from its long-term incentive performance share
plan and other employee share plans.
The program will start on February 24, 2022 and is
expected to be completed in the second quarter. The 850,000 shares
intended to be bought represent approximately 0.7% of the company’s
issued share capital. At the current share price, the repurchase
program represents a total value of approximately EUR 39
million.
Signify will hold the repurchased shares in
treasury until employee share awards are vested. The program will
be executed by an intermediary to allow for share repurchases in
the open market during both open and closed periods. The program
will be executed within the limits of relevant laws and regulations
and the authority granted by the Annual General Meeting of
Shareholders on May 18, 2021.
Signify will update the market on the progress of
the share repurchase program in weekly press releases. This
information will also be published on the company’s website.
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For further information, please contact:
Signify Investor RelationsThelke GerdesTel: +31
6 1801 7131E-mail: thelke.gerdes@signify.com
Signify Corporate
CommunicationsElco van GroningenTel: +31 6 1086
5519E-mail: elco.van.groningen@signify.com
About Signify
Signify (Euronext: LIGHT) is the world leader in
lighting for professionals and consumers and lighting for the
Internet of Things. Our Philips products, Interact connected
lighting systems and data-enabled services, deliver business value
and transform life in homes, buildings and public spaces. With 2021
sales of EUR 6.9 billion, we have approximately 37,000 employees
and are present in over 70 countries. We unlock the extraordinary
potential of light for brighter lives and a better world. We
achieved carbon neutrality in 2020, have been in the Dow Jones
Sustainability World Index since our IPO for five consecutive years
and were named Industry Leader in 2017, 2018 and 2019. News from
Signify is located at the Newsroom, Twitter, LinkedIn and
Instagram. Information for investors can be found on the Investor
Relations page.
- 20220224_Signify starts share repurchase program of up to
850,000 shares to cover performance share plans
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