Total value of 250 million! PHILPS lighting launch stock repurchase program

Global lighting LED PHILPS lighting (22) yesterday announced the launch of the stock repurchase program, intends to repurchase 1 million 50 thousand shares of its own stock. PHILPS lighting will use these shares to fulfill its obligations due to its long-term results, stock incentives and other employee stock ownership plans.

The plan will begin in May 22, 2017 and is expected to be completed in the next three months. The proposed 1 million 50 thousand shares account for approximately 0.7% of the issued share capital of the company. According to the present stock price, the buyback plan total value is approximately 32 million euro (approximately Renminbi 248 million yuan).

PHILPS lighting will continue to hold repurchase shares, until the completion of the employee share incentive award. The plan will be implemented by intermediaries to allow the company to repurchase shares in the open market during the open period and during the closing period. The plan will be implemented in accordance with the relevant laws and regulations and the scope of authorization of the general meeting of shareholders in May 9, 2017. (compile: LEDinside, Nicole)

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