MOSCOW (MRC) -- AkzoNobel has repurchased 162,810 of its own common shares in the period from December 12, 2022, up to and including December 16, 2022, at an average price of €64.61 per share. The consideration of the repurchase was EUR10.52 mln, said the company.
This finalizes the EUR500 million share buyback announced on February 9, 2022, which was scheduled to be completed by the end of 2022, as previously stated. The total number of shares repurchased under the program was 7,263,728 ordinary shares, at an average price of EUR68.84 per share.
This share buyback was implemented within the limitations of the authority granted by the Annual General Meeting (AGM) on April 22, 2022. The share repurchase program was conducted within the parameters prescribed by the Market Abuse Regulation 596/2014 and the safe harbor parameters prescribed by the Commission Delegated Regulation 2016/1052 for share buybacks.
We remind, AkzoNobel has completed the acquisition of the wheel liquid coatings business of Lankwitzer Lackfabrik GmbH, a deal which strengthens the company’s performance coatings portfolio. The acquired business will complement AkzoNobel’s existing powder coatings offering and expand the range of innovative products the company supplies.