dsm-firmenich Introduces a Major Share Repurchase Initiative
dsm-firmenich, a leader in innovations concerning nutrition, health, and beauty, has made a significant announcement regarding its share repurchase program. The company aims to initiate a share buyback program with a total market value reaching €1 billion, which will play a crucial role in managing its capital structure and supporting ongoing employee share plans.
Details of the Share Repurchase Program
The share repurchase program is planned to kick off with an initial allocation of €500 million, set to increase to €1 billion once the previously noted sale of dsm-firmenich’s stake in the Feed Enzymes Alliance is finalized. As of now, the company is prepared to commence the buyback of ordinary shares for an estimated total of €580 million, with specific intentions to allocate €80 million towards fulfilling commitments associated with share-based compensation plans for employees and the remaining €500 million directed towards reducing the company's issued capital.
Execution of the Buyback Plan
In executing this mandate, dsm-firmenich has partnered with a financial institution under a discretionary buyback agreement. This allows for a dedicated approach in managing the execution of the share repurchase efficiently and independently from the company's direct influence. The buyback will be carried out in adherence to relevant market regulations and under the constraints authorized by the Board of Directors during the most recent Annual General Meeting.
Progress Updates and Timeline
Throughout the course of the program, the company will keep markets informed on a weekly basis regarding the progress made in relation to the share repurchase initiative. This initial program is expected to reach completion within a six-month timeframe from the commencement date, laying the groundwork for the subsequent buyback that aligns with the anticipated sale of its investment stake in the Feed Enzymes Alliance.
About dsm-firmenich's Commitment to Sustainable Practices
dsm-firmenich is not just focused on financial development but is also deeply invested in sustainability. By integrating natural and renewable materials into its production processes, the company continually seeks to meet the needs of today's consumers while ensuring a future that is sustainable for the planet. With operations spanning nearly 60 countries and reporting over €12 billion in revenues, the company prides itself on employing around 30,000 dedicated professionals working towards a shared vision of nutrition, health, and beauty for all.
Contact Information
For further inquiries regarding this share repurchase program or other investor relations matters, dsm-firmenich can be reached at:
Investor Relations:
Email: investors@dsm-firmenich.com
Media Enquiries:
Email: media@dsm-firmenich.com
Frequently Asked Questions
What is the purpose of dsm-firmenich's share repurchase program?
The program aims to enhance shareholder value while also fulfilling commitments related to employee share plans and reducing issued capital.
How much is dsm-firmenich planning to repurchase initially?
The company intends to initially repurchase shares amounting to €580 million.
What will the total repurchase amount reach eventually?
Upon completion of specific conditions, the total share repurchase could ultimately reach €1 billion.
How will dsm-firmenich execute this repurchase?
The repurchase will be conducted in collaboration with a financial institution who will manage the execution and trading decisions independently.
Where can I find more information about dsm-firmenich?
For additional information, visit www.dsm-firmenich.com.
