DSM announces repurchase of shares to cover existing option plans and stock dividend

2/22/2016, 8:00 AM (Source: GlobeNewswire)

Royal DSM, a global science-based company active in health, nutrition and materials, today announces
that it intends to repurchase 3,200,000 ordinary shares, starting on 22 February 2016, in order to cover its commitments under existing management and personnel option plans (2,500,000) and shares for  stock dividend as part of the final dividend 2015 (700,000). Based on the closing price of the DSM share on Euronext Amsterdam on 19 February 2016 this would be equivalent to approximately €140 million.

DSM has signed a Discretionary Management Agreement with the bank that will execute the repurchase. The repurchase price will be based on the daily VWAP (Volume Weighted Average Price). Volumes to be repurchased will be on average 5% of the daily trading volume on the open market, within a bandwidth of 2-8% per day. This share repurchase program is anticipated to continue into Q2 2016. The total number of shares to be repurchased under this program represents approximately 1.76% of ordinary shares issued.

In accordance with regulations DSM will inform the market about the progress made in the execution of this program through weekly press releases.

Statement pursuant to art. 5:25a of the Dutch Financial Supervision Act
DSM also announces that The Netherlands is its "Home Member State", as required by article 5:25a (2) of the Dutch Financial Supervision Act. This article obliges all listed companies to publicly announce which country is their "home member state" (as referred to in article 5:25a(1) sub c of the Dutch Financial Supervision Act) for purposes of regulation of their disclosure obligations under the EU Transparency Directive. Pursuant to section 5:25a of the Dutch Financial Supervision Act Royal DSM has notified the Autoriteit Financiële Markten (AFM).

DSM - Bright Science. Brighter Living.(TM)
Royal DSM is a global science-based company active in health, nutrition and materials. By connecting its unique competences in life sciences and materials sciences DSM is driving economic prosperity, environmental progress and social advances to create sustainable value for all stakeholders simultaneously. DSM delivers innovative solutions that nourish, protect and improve performance in global markets such as food and dietary supplements, personal care, feed, medical devices, automotive, paints, electrical and electronics, life protection, alternative energy and bio-based materials. DSM and its associated companies deliver annual net sales of about €10 billion with approximately 25,000 employees. The company is listed on Euronext Amsterdam. More information can be found at www.dsm.com.

For more information:

DSM Corporate Communications

Herman Betten
tel. +31 (0) 45 5782017 
e-mail media.contacts@dsm.com

DSM Investor Relations

Dave Huizing
tel. +31 (0) 45 5782864
e-mail investor.relations@dsm.com

  




This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: DSM N.V. via Globenewswire

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