DSM initiates second phase of share buy-back program
Royal DSM N.V., the global Life Sciences and Materials Sciences company headquartered in the Netherlands, announces that the company will today, 5 May 2008, start the second phase of the share buy-back program of EUR 750 million announced on 27 September 2007.
DSM has signed a Discretionary Management Agreement with the bank that will execute the share buy-back. DSM intends to repurchase shares for a total consideration of approximately EUR 250 million. The repurchase price will be based on the daily VWAP (Value Weighted Average Price). Daily volumes to be repurchased will be around 10% of the daily trading volume.
In accordance with the present regulations DSM will regularly inform the market via press releases about the progress made in the execution of this share buy-back program. In addition DSM may halt the buy-back at any time, if a major acquisition needs financing.
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