dsm-firmenich announces repurchase of 1.5m shares to cover share plans
KAISERAUGST, Switzerland and MAASTRICHT, Netherlands, April 8, 2024 /PRNewswire/ -- dsm-firmenich today announces that, starting April 8, 2024, it intends to repurchase 1,500,000 ordinary shares to cover commitments under the Group's share-based compensation plans. The share repurchase is equivalent to approximately €156 million based on the closing price of the dsm-firmenich ordinary share on Euronext Amsterdam on April 4, 2024. The total number of ordinary shares to be repurchased under this program represents approximately 0.6% of ordinary shares issued.
The program consists of an on-market share repurchase of 500,000 shares, followed by a repurchase of 1,000,000 shares by means of an equity forward transaction. The forward transaction is expected to be entered into in April 2024, and dsm-firmenich expects to take delivery of the shares in 2025. Both share repurchase mandates will be executed in accordance with the Market Abuse Regulation and within the limitations of the authority granted to the Board of Directors by the Annual General Meeting.
dsm-firmenich has signed Discretionary Management Agreements with banks to commence the execution of the share repurchase program on its behalf and to make trading decisions under the Agreements independently of dsm-firmenich.
In accordance with regulations, dsm-firmenich will inform the market about the progress made in the execution of this program through weekly press releases. Other than the delivery of the shares under the equity forward transaction, the share repurchase program is anticipated to be completed in Q2 2024.
For more information, please contact:
dsm-firmenich investor relations enquiries:
Email: investors@dsm-firmenich.com
dsm-firmenich media enquiries:
Email: media@dsm-firmenich.com
About dsm-firmenich
As innovators in nutrition, health, and beauty, dsm-firmenich reinvents, manufactures, and combines vital nutrients, flavors, and fragrances for the world's growing population to thrive. With our comprehensive range of solutions, with natural and renewable ingredients and renowned science and technology capabilities, we work to create what is essential for life, desirable for consumers, and more sustainable for the planet. dsm-firmenich is a Swiss-Dutch company, listed on the Euronext Amsterdam, with operations in almost 60 countries and revenues of more than €12 billion. With a diverse, worldwide team of nearly 30,000 employees, we bring progress to life™ every day, everywhere, for billions of people. www.dsm-firmenich.com
Disclaimer
This press release does not constitute or form part of, an offer or any solicitation of an offer for securities in any jurisdiction.
This press release may contain forward-looking statements with respect to dsm-firmenich's future. Such statements are based on current expectations, estimates and projections of dsm-firmenich and information currently available to the company. dsm-firmenich cautions readers that such statements involve certain risks and uncertainties that are difficult to predict and therefore it should be understood that many factors can cause actual performance and position to differ materially from these statements. dsm-firmenich has no obligation to update the statements contained in this press release, unless required by law. The English language version of this press release prevails over other language versions.
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