Royal DSM, a global science-based company active in Nutrition, Health and Sustainable Living, today announces that, starting 13 August 2018, it intends to repurchase in total 1,100,000 ordinary shares: 500,000 ordinary shares to cover commitments under share-based compensation plans and 600,000 ordinary shares to cover commitments for stock dividend as part of the interim dividend 2018. Based on the closing price of the DSM share on Euronext Amsterdam on 10 August 2018 this would be equivalent to approximately €99 million.
DSM has signed a Discretionary Management Agreement with the bank that will execute the repurchase. The repurchase price will be based on the daily VWAP (Volume Weighted Average Price). Volumes to be repurchased will be on average 5% of the daily trading volume on the open market, within a bandwidth of 2-8% per day. The total share repurchase program is anticipated to continue into Q4 2018. The total number of shares to be repurchased under this program represents approximately 0.6% of ordinary shares issued.
In accordance with financial market regulations DSM will inform the market about the progress made in the execution of this program through weekly press releases.