Philips Lighting has announced the progress of its share buyback program with 94,250 shares repurchased in the period July 3, 2017 to July 7, 2017.
“The shares were repurchased at an average price of EUR 31.72 per share, and an aggregate amount of EUR 3.09 million,” said Philips Lighting. “These repurchases were made as part of the company’s buyback program, which was announced on May 22, 2017.”
According to the news release, 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 program to date is 747,623 shares for a total consideration of EUR 25.08 million.
The global leader in lighting will update the market on the progress of the share buyback program in its weekly press releases.