Philips announces share repurchase
By HME News Staff
Updated 9:00 AM CDT, Mon June 19, 2023
AMSTERDAM – Royal Philips announced on June 14 that it will repurchase up to 7.1 million shares to cover certain of its obligations arising from its long-term incentive plans. At the current share price, the shares represent an amount of up to about EUR 132 million. The repurchases will be executed through one or more individual forward transactions, expected to be entered into in the second or third quarter of 2023, in accordance with the Market Abuse Regulation and within the limits of the authorization granted by the company’s general meeting of shareholders on May 9, 2023. Philips expects to take delivery of the shares in 2024 and 2025. Further details are available here.
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