Philips to repurchase shares for up to EUR 125 million to cover long-term incentive plans
05 Agosto 2024 - 5:00AM
August 5, 2024
Amsterdam, the Netherlands – Royal Philips
(NYSE: PHG, AEX: PHIA) today announced that it will repurchase
shares for an amount of up to EUR 125 million to cover certain of
its obligations arising from its long-term incentive plans. At the
current share price, this represents a total of approximately 4.8
million shares.
The repurchases will be executed through a combination of
forward transactions and open market purchases with a financial
institution. Philips expects to take delivery of the forward share
purchases in 2026. The open market purchases will be executed in Q3
2024 by an intermediary to allow for share purchases during both
open and closed periods. All repurchases will be executed in
accordance with the EU Market Abuse Regulation and within the
limits of the authorization granted by the company’s General
Meeting of Shareholders on May 7, 2024.
Updates on the progress of the program and further details will
be made available via this link and through press releases as
appropriate.
For further information, please
contact:
Ben ZwirsPhilips External RelationsTel.: +31 6 1521 3446E-mail:
ben.zwirs@philips.com
Dorin DanuPhilips Investor RelationsTel.: +31 20 59 77055E-mail:
dorin.danu@philips.com
About Royal PhilipsRoyal Philips (NYSE: PHG,
AEX: PHIA) is a leading health technology company focused on
improving people's health and well-being through meaningful
innovation. Philips’ patient- and people-centric innovation
leverages advanced technology and deep clinical and consumer
insights to deliver personal health solutions for consumers and
professional health solutions for healthcare providers and their
patients in the hospital and the home. Headquartered in the
Netherlands, the company is a leader in diagnostic imaging,
ultrasound, image-guided therapy, monitoring, and enterprise
informatics, as well as in personal health. Philips generated 2023
sales of EUR 18.2 billion and employs approximately 68,700
employees with sales and services in more than 100 countries. News
about Philips can be found at www.philips.com/newscenter.
Forward-looking statementsThis release contains
certain forward-looking statements with respect to the financial
condition, results of operations and business of Philips and
certain of the plans and objectives of Philips with respect to
these items. Examples of forward-looking statements include
statements made about the strategy, estimates of sales growth,
future EBITA, future developments in Philips’ organic business and
the completion of acquisitions and divestments. By their nature,
these statements involve risk and uncertainty because they relate
to future events and circumstances and there are many factors that
could cause actual results and developments to differ materially
from those expressed or implied by these statements.
Koninklijke Philips NV (NYSE:PHG)
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Koninklijke Philips NV (NYSE:PHG)
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