Royal DSM, the global life sciences and materials sciences company has announced that it intends to repurchase 4,000,000 ordinary shares, starting on 7 September 2011, in order to cover its commitments under existing management and personnel option plans. Based on the closing price of the DSM share on NYSE Euronext on 6 September 2011 this would be equivalent to approximately €126m.
DSM has signed a discretionary management agreement with the bank that will execute the repurchase. The repurchase price will be based on the daily VWAP (volume weighted average price). Volumes to be repurchased will on average be 10% of the daily trading volume on Euronext Amsterdam, within a bandwidth of 7-13% per day.
In accordance with the present regulations DSM will inform the market about the progress made in the execution of this programme through weekly press releases.
