dsm-firmenich flag at stock exchangedsm-firmenich flag at stock exchange
  • Substantial Share Buyback and Forward Transaction Arrangement

Maastricht, The Netherlands – DSM-Firmenich, a leading global science-based company in nutrition, health, and sustainable living, Monday announced a comprehensive share repurchase program, earmarked at €156 million, a move to cover commitments under its share-based compensation plans. This initiative commences today, reflecting the company’s robust financial position and commitment to delivering shareholder value, the company said.

The program, set to kick off on April 8, 2024, involves the repurchase of 1,500,000 ordinary shares, representing about 0.6% of the issued ordinary shares. Specifically, the initiative comprises an on-market repurchase of 500,000 shares and a forward transaction for 1,000,000 shares. The latter is expected to be formalized in April 2024, with the delivery of shares scheduled for 2025.

Financial Execution

DSM-Firmenich’s latest move illustrates its strategic approach to financial management, adhering strictly to the Market Abuse Regulation and respecting the authority granted by the Annual General Meeting to its Board of Directors.

Independent Bank Management

To ensure an unbiased and efficient execution, DSM-Firmenich has entrusted the program to banks under Discretionary Management Agreements. These banks will independently oversee the share repurchases, reflecting the company’s trust in their expertise.

Timely Completion Anticipated

Excluding the shares under the forward transaction, the completion of the share repurchase program is expected by Q2 2024, underscoring DSM-Firmenich’s efficiency and financial acumen in managing such strategic initiatives.

By Lisa Luckas

Lisa Luckas is a Sr. Business News Editor at Nobot.News.

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