Philips today announced that it has completed the cancellation of 21,361,016 of its shares.
The cancelled shares were acquired from November 1, 2014, up to and including November 20, 2015, as part of Philips’ EUR 1.5 billion share repurchase program that started on October 21, 2013, and is executed over a three year period. The average repurchase price of the cancelled shares was EUR 24.21 per share.
In connection with this share capital reduction, Philips has notified the Netherlands Authority for the Financial Markets (AFM) that it currently holds 1.38 per cent of its issued shares.
Currently, Philips’ issued share capital amounts to 931,130,387 shares.
Editing for Eindhoven News: Chuan Nie