Amsterdam, The Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA) today announced that it has completed the cancellation of 24,246,711 of its shares, as part of Philips’ EUR 1.5 billion share repurchase program, which started in the third quarter of 2017. The cancelled shares were acquired during the period up to and including November 23, 2018.
Under this share repurchase program, which is being executed over a two-year period, Philips has also 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. The program is expected to result in the acquisition and cancellation of an additional 22.7 million shares. Further details can be found here.
Philips’ current issued share capital amounts to 926,195,539 shares.