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Friday, 28 July 2017

Philips Lighting completes share buyback to cover performance share plans and cancellation of 3.5 million of its own shares

Philips Lighting    

Published: 13:00 CEST 28-07-2017 /GlobeNewswire /Source: Philips Lighting / : LIGHT /ISIN: NL0011821392

Philips Lighting completes share buyback to cover performance share plans and cancellation of 3.5 million of its own shares

Press Release

 

 

July 28, 2017

 

Philips Lighting completes share buyback to cover performance share plans and cancellation of 3.5 million of its own shares                                                                         

 

Eindhoven, the Netherlands - Philips Lighting (Euronext Amsterdam ticker: LIGHT), a global leader in lighting, today announced it has completed its previously announced share buyback program and the cancellation of 3.5 million of its own shares.

 

The company repurchased a total of 1.05 million shares for a total consideration of EUR 34.90 million in the period May 22, 2017 to and including July 27, 2017. The purpose of the buyback program was to cover obligations arising from its long-term incentive performance share plan and other employee share plans. The company will hold the repurchased shares in treasury until employee share awards are vested.

 

Philips Lighting also completed the cancellation of 3.5 million shares that it repurchased from its majority shareholder Royal Philips on April 25, 2017 for an aggregate amount of EUR 101 million.

 

After completion of the share buyback and cancellation of the 3.5 million shares, Philips Lighting's issued share capital consists of 143 million ordinary shares, including 1.05 million shares held in treasury. Philips Lighting now holds 0.73% of its own issued shares. The company notified the Netherlands Authority for the Financial Markets (AFM) of the change in its issued share capital and that the company's interest in its own shares has fallen below 3%.

 

More details on the share buyback transactions can be found here.

 

For further information, please contact:

 

Philips Lighting Investor Relations

Robin Jansen

Tel: +31 6 1594 4569

E-mail: robin.j.jansen@philips.com

 

Philips Lighting Corporate Communications

Elco van Groningen

Tel: +31 6 1086 5519

E-mail: elco.van.groningen@philips.com

 

 

 

About Philips Lighting

Philips Lighting (Euronext Amsterdam ticker: LIGHT), a global leader in lighting products, systems and services, delivers innovations that unlock business value, providing rich user experiences that help improve lives. Serving professional and consumer markets, we lead the industry in leveraging the Internet of Things to transform homes, buildings and urban spaces. With 2016 sales of EUR 7.1 billion, we have approximately 34,000 employees in over 70 countries. News from Philips Lighting is located at the Newsroom, Twitter and LinkedIn. Information for investors can be found on the Investor Relations page.

 

Link to downloadable PDF





This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of NASDAQ OMX Corporate Solutions clients. Source: Philips Lighting, High Tech Campus 48, Eindhoven NL-5656 AE, The Netherlands
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