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December 13, 2016
By: Catherine Diamon
AkzoNobel will repurchase up to 2.5 million ordinary shares, which, based on the closing price of AkzoNobel shares on December 12, 2016, would be equivalent to approximately €150 million. The purpose of the program is to neutralize the dilutive effect of stock dividends paid in 2016. Subject to shareholder approval it is intended the shares will be cancelled during the course of 2017. AkzoNobel has engaged a third party to manage the program and execute the transactions on its behalf. This share repurchase program will start on January 2, 2017 and is anticipated to be concluded by the end of April 2017. In accordance with regulations, AkzoNobel will inform the market about the progress made in the execution of this program through weekly updates at www.akzonobel.com/for-investors/shares/share-buyback-overview.
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