Signify starts share repurchase program of up to 2 million shares to cover performance share plans
25 Februar 2021 - 8:00AM
Signify starts share repurchase program of up to 2 million shares
to cover performance share plans
Press Release
February 25, 2021
Signify starts share repurchase program of up to 2
million 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 2 million 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 25, 2021 and is expected to
be completed in the second quarter. The 2 million shares intended
to be bought represent approximately 1.6% of the company’s issued
share capital. At the current share price, the repurchase program
represents a total value of approximately EUR 73 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 19, 2020.
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 SignifySignify (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 2020 sales of EUR 6.5 billion, we have approximately
38,000 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 four
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.
- 20210225_Signify starts share repurchase program of up to 2
million shares to cover performance share plans
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