Philips completes cancellation of 4.4 million shares
Rhea-AI Summary
Royal Philips (NYSE: PHG; AEX: PHIA) has announced the completion of its cancellation of 4,437,164 shares.
This cancellation is part of the previously disclosed EUR 1.5 billion share repurchase program aimed at reducing capital. The buyback program was initially announced on July 26, 2021.
Following this cancellation, the company's current issued share capital now stands at EUR 187,987,876.80, which equates to 939,939,384 common shares.
Positive
- Completion of EUR 1.5 billion share repurchase program.
- Reduction of 4,437,164 shares from the overall share count.
- Capital reduction aimed at benefiting shareholders.
Negative
- None.
News Market Reaction – PHG
On the day this news was published, PHG gained 1.55%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
June 19, 2024
Amsterdam, the Netherlands – Royal Philips (NYSE: PHG; AEX: PHIA) today announced that it has completed the cancellation of 4,437,164 of its shares. The cancelled shares were acquired as part of the completed EUR 1.5 billion share repurchase program for capital reduction purposes that was announced on July 26, 2021.
Philips’ current issued share capital amounts to EUR 187,987,876.80 representing 939,939,384 common shares.
More information is available here.
For further information, please contact:
Ben Zwirs
Philips External Relations
Tel.: +31 6 1521 3446
E-mail: ben.zwirs@philips.com
Dorin Danu
Philips Investor Relations
Tel.: +31 20 59 77055
E-mail: dorin.danu@philips.com
About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people's health and well-being through meaningful innovation. Philips’ patient- and people-centric innovation leverages advanced technology and deep clinical and consumer insights to deliver personal health solutions for consumers and professional health solutions for healthcare providers and their patients in the hospital and the home. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, ultrasound, image-guided therapy, monitoring and enterprise informatics, as well as in personal health. Philips generated 2023 sales of EUR 18.2 billion and employs approximately 69,100 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.
Forward-looking statements
This release contains certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. Examples of forward-looking statements include statements made about the strategy, estimates of sales growth, future EBITA, future developments in Philips’ organic business and the completion of acquisitions and divestments. By their nature, these statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these statements.
FAQ
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