Philips Lighting Starts Share Repurchase Program of Up to 1.5 Million Shares to Cover Performance Share Plans

(Image: Philips Lighting)

Philips Lighting announced the start of a program to repurchase up to 1.5 million of its own shares. Philips Lighting will use the shares to cover obligations arising from its long-term incentive performance share plan and other employee share plans.

The program starts today May 2, 2018 and is expected to be completed within the second quarter. The 1.5 million shares intended to be bought represent approximately 1.1% of the company's issued share capital. At the current share price, the repurchase program represents a total value of approximately EUR 38 million.

Philips Lighting will hold the repurchased shares in treasury until employee share awards are vested. The program will be executed by an intermediary to allow for share repurchases in the open market during both open and closed periods. The program will be executed within the limits of relevant laws and regulations and the authority granted by the Annual General Meeting of Shareholders on May 9, 2017.

Philips Lighting will update the market on the progress of the share repurchase program in weekly press releases.

Disclaimers of Warranties
1. The website does not warrant the following:
1.1 The services from the website meets your requirement;
1.2 The accuracy, completeness, or timeliness of the service;
1.3 The accuracy, reliability of conclusions drawn from using the service;
1.4 The accuracy, completeness, or timeliness, or security of any information that you download from the website
2. The services provided by the website is intended for your reference only. The website shall be not be responsible for investment decisions, damages, or other losses resulting from use of the website or the information contained therein<

Proprietary Rights
You may not reproduce, modify, create derivative works from, display, perform, publish, distribute, disseminate, broadcast or circulate to any third party, any materials contained on the services without the express prior written consent of the website or its legal owner.