Eindhoven, the Netherlands – Signify (Euronext: LIGHT), the world leader in lighting, today announced the start of a program to repurchase up to 2 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 February 25, 2021 and is expected to be completed in the second quarter. The 2 million shares intended to be bought represent approximately 1.6% of the company’s issued share capital. At the current share price, the repurchase program represents a total value of approximately EUR 73 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 will update the market on the progress of the share repurchase program in weekly press releases. This information will also be published on the company’s website.
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For further information, please contact:
Signify Investor Relations
Tel: +31 6 1801 7131
Signify Corporate Communications
Elco van Groningen
Tel: +31 6 1086 5519
Signify (Euronext: LIGHT) is the world leader in lighting for professionals and consumers and lighting for the Internet of Things. Our Philips products, Interact connected lighting systems and data-enabled services, deliver business value and transform life in homes, buildings and public spaces. With 2020 sales of EUR 6.5 billion, we have approximately 38,000 employees and are present in over 70 countries. We unlock the extraordinary potential of light for brighter lives and a better world. We achieved carbon neutrality in 2020, have been in the Dow Jones Sustainability World Index since our IPO for four consecutive years and were named Industry Leader in 2017, 2018 and 2019. News from Signify is located at the Newsroom, Twitter
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