The value is about 290 million! PHILPS lighting began to buy back over 1 million 500 thousand shares

PHILPS lighting yesterday (2) announced that it began to buy back more than 1 million 500 thousand shares, and the company would use the shares to counteract the debt generated by the long-term incentive performance stock plan and other employee stock ownership plans.

The share repurchase program, which began in May 2, 2018, is expected to be completed before the second quarter. The 1 million 500 thousand shares that are to be repurchased are about 1.1% of the company's issued equity. According to the current stock prices, the share value of the share repurchase is about 38 million euros (RMB 290 million yuan).

PHILPS lighting plans to hold the repurchase shares in the finance department until the employee stock incentive is awarded. In addition, the share repurchase plan will be carried out by an agency under the relevant laws and regulations during the opening and closing of the open market in accordance with the relevant laws and regulations in May 9, 2017, under the authorization of the annual shareholders' meeting.

In addition, PHILPS lighting will update the progress of the repo stock in a week's press release, and will also be posted on the company's website.

It is reported that PHILPS lighting has successfully completed the repurchase of 2 million 200 thousand shares in February 27, 2018, with a total amount of about 71 million euros (RMB 552 million yuan). (compiled: LEDinside Janice)

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