Philips buys back share to cover obligations to staff

Corporate July 17, 2017 18:41

By The Nation

Netherlands-based Philips Lighting, a global leader in lighting, announced on Monday that it has repurchased 100,000 shares in the period July 10-14. The shares were repurchased at an average price of 33.05 euros (Bt1,276) per share and an aggregate amount of 3.31 million euros.



These repurchases were made as part of the company’s buyback programme, which was announced on May 22.

Philips Lighting will use the shares to cover obligations arising from its long-term incentive performance share plan and other employee share plans.

The total number of shares repurchased under this programme to date is 847,623 shares for a total consideration of 28.38 million euros