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Eindhoven, the Netherlands – Signify (Euronext: LIGHT), the world leader in lighting, today announced the start of the share repurchase program to buy back up to EUR 230 million of its own shares to reduce the company’s capital.
The program is in line with Signify’s announcement of July 27, 2018 and will start on July 30, 2018. It is expected to be completed by the end of 2018. At the current share price, the repurchase program represents a total of approximately 9.9 million shares or 7.2% of the company’s issued share capital. Signify intends to cancel the repurchased shares.
The program will be executed by an intermediary to allow for share repurchases in the open market during both open and closed periods and is within the limits of the authority granted by the Annual General Meeting of Shareholders on May 15, 2018.
Signify will provide updates on the progress of the repurchase program each week via a press release which will be published on the Signify website.
Signify Investor Relations
Robin Jansen
Tel: +31 6 1594 4569
E-mail: robin.j.jansen@signify.com
Signify Corporate Communications
Elco van Groningen
Tel: +31 6 1086 5519
E-mail: elco.van.groningen@signify.com
Signify (Euronext: LIGHT) is the world leader in lighting for professionals and consumers and lighting for the Internet of Things. Our Philips products, Interact connected lighting systems and data-enabled services, deliver business value and transform life in homes, buildings and public spaces. With 2017 sales of EUR 7.0 billion, we currently employ approximately 30,000 employees and have a presence in over 70 countries. We unlock the extraordinary potential of light for brighter lives and a better world. News from Signify is located at the Newsroom, Twitter and LinkedIn. Information for investors can be found on the Investor Relations page.
