Share repurchase program

Share buyback program

On June 28, 2017, Royal Philips announced a EUR 1.5 billion share buyback program. Philips started the program in the third quarter of 2017, and intends to complete it in two years. As the program was initiated for capital reduction purposes, Philips intends to cancel all of the shares acquired under the program.

 

Under this program, Royal Philips so far has entered into a number of forward transactions with a number of financial institutions, to be settled at future dates over the course of the program:

 

Transaction date

Number of shares

Price per share

Settlement dates

July 25, 2017

2,100,000

31.84

April 23, 2019

 

2,100,000

31.08

May 29, 2019

 

2,100,000

31.08

June 17, 2019

August 9, 2017

1,000,000

31.15

April 23, 2019

 

1,000,000

30.40

May 29, 2019

 

1,000,000

30.41

June 17, 2019

August 16, 2017

3,100,000

31.20

April 23, 2019

 

3,100,000

30.58

May 29, 2019

 

3,100,000

30.59

June 17, 2019

September 8, 2017

1,000,000

33.50

October 17, 2018

 

1,000,000

33.50

November 21, 2018

 

1,000,000

33.51

December 19, 2018

September 15, 2017

2,300,000

34.23

October 17, 2018

 

2,300,000

34.22

November 21, 2018

 

2,300,000

34.22

December 19, 2018


 

Previously share buyback program 

On September 17, 2013, Royal Philips announced a EUR 1.5 billion share repurchase program. This program started on October 21, 2013 and was completed on October 20, 2016.

Previously share repurchases related to Long Term Incentive (LTI) and employee stock purchase program

To cover outstanding obligations resulting from past and present long-term incentive (LTI) programs, Philips repurchases additional Philips shares on NYSE Euronext Amsterdam from time to time. The shares repurchased to cover such LTI positions will be held by Philips as treasury shares until these are distributed to participants.

In order to repurchase shares for covering LTI programs, Philips may enter into discretionary management agreements with one or more banks within the limits of relevant laws and regulations (in particular the EU Market Abuse Regulation) and Philips’ Articles of Association. All transactions will be published here on a weekly basis.

 

The LTI coverage program is over and above the existing EUR 1.5 billion share repurchase program for cancellation purposes which started on October 21, 2013 and was completed on October 20, 2016.