AkzoNobel repurchase shares worth €150 million

AkzoNobel to repurchase shares worth €150 million

7:12 AM, 13th December 2016

AMSTERDAM, NETHERLANDS: AkzoNobel NV declared that it will repurchase up to 2.5 million ordinary shares, which is based on the closing price of AkzoNobel shares on 12 December. It would be equivalent to approximately €150 million.

The purpose of the program is to neutralise the dilutive effect of stock dividends paid in 2016. Subject to shareholder approval it is intended the shares will be cancelled during the course of 2017.

AkzoNobel has engaged a third party to manage the program and execute the transactions on its behalf. This share repurchase program will start on 2 January 2017 and is anticipated to be concluded by the end of April 2017.

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