Nestlé completes CHF 25 billion share buyback programme and confirms new CHF 10 billion programme
Vevey, Switzerland, Nestlé S.A. announces that it has completed the remaining CHF 10 billion share buyback of its CHF 25 billion share buyback programme initiated on 24 August 2007. Since 13 August 2009, Nestlé repurchased 203,400,000 of its shares for a total of CHF 10 billion at an average purchase price per share of CHF 49.17. The average purchase price per share for the whole CHF 25 billion share buyback programme was CHF 48.31.
185,000,000 repurchased shares will be cancelled and the share capital of Nestlé SA will be reduced by CHF 18,500,000 later this month in accordance with the resolution of the 2010 Annual General Meeting of shareholders of Nestlé S.A.
As announced in January 2010, Nestlé intends to start on 29 June 2010 a new share buyback programme of CHF 10 billion, subject to market conditions and strategic opportunities. The necessary filings have been made with the relevant Swiss authorities. As part of this new share buyback programme Nestlé expects to buy back around CHF 5 billion in shares in the second half of 2010, bringing the total of shares repurchased in 2010 to CHF 10 billion. The new CHF 10 billion share buyback programme is expected to be completed during 2011.
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