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July 30, 2020
Signify starts share repurchase program of up to 1.15 million 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 1.15 million 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 July 30, 2020 and is expected to be completed within the third quarter. The 1.15 million shares intended to be bought represent approximately 0.9% of the company’s issued share capital. At the current share price, the repurchase program represents a total value of approximately EUR 30 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 19, 2020.
Signify Investor Relations
Rogier Dierckx
Tel: +31 6 1138 4609
E-mail: rogier.dierckx@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, 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.
