Signify starts share repurchase program of up to 450,000 shares to cover performance share plans
Source: GlobeNewswirePress Release
April 29, 2024
Signify starts share repurchase program of up to 450,000 shares to cover performance share plans
Eindhoven, the Netherlands – Signify (Euronext: LIGHT), the world leader in lighting, today announced the start of a program to repurchase up to 450,000 of its own shares. Signify will use the shares to cover obligations arising from its long-term incentive performance share plan and other employee share plans.
The program will start on April 29, 2024 and is expected to be completed in the second quarter. The 450,000 shares intended to be bought represent approximately 0.4% of the company’s issued share capital. At the current share price, the repurchase program represents a total value of approximately EUR 11 million.
Signify 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 16, 2023.
Signify will update the market on the progress of the share repurchase program in weekly press releases. This information will also be published on the company’s website.
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For further information, please contact:
Signify Investor Relations
Thelke Gerdes
Tel: +31 6 1801 7131
E-mail: thelke.gerdes@signify.com
Signify Corporate Communications
Tom Lodge
Tel: +31 6 5252 5416
E-mail: tom.lodge@signify.com
About Signify
Signify (Euronext: LIGHT) is the world leader in lighting for professionals, consumers and the Internet of Things. Our Philips products, Interact systems and data-enabled services deliver business value and transform life in homes, buildings and public spaces. In 2023, we had sales of EUR 6.7 billion, approximately 32,000 employees and a presence in over 70 countries. We unlock the extraordinary potential of light for brighter lives and a better world. We have been in the Dow Jones Sustainability World Index since our IPO for seven consecutive years and have achieved the EcoVadis Platinum rating for four consecutive years, placing Signify in the top one percent of companies assessed. News from Signify can be found in the Newsroom, on X, LinkedIn and Instagram. Information for investors is located on the Investor Relations page.
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