Ahold Delhaize authorizes new €1 billion share buyback program for 2021
2020年11月4日 - 3:46PM
Zaandam, the Netherlands, November 4, 2020 – Ahold Delhaize
today announces the authorization of a new €1 billion
share buyback program, to start at the beginning of 2021. The
new program is a testament to the strength the company expects to
continue to see in its business model.
Maintaining a balanced approach
between funding growth in key channels and returning excess
liquidity to shareholders is part of Ahold Delhaize’s
financial framework and supports its Leading Together
strategy. As COVID-19 continues to impact the
company’s communities, Ahold Delhaize aims to
also strike the appropriate balance with important
investments in additional safety measures, enhanced
associate pay and benefits, and significant charitable
donations, which resulted in approximately €470 million in
COVID-19-related costs year to date.
The purpose of the share
buyback program is to reduce the capital
of Ahold Delhaize, by cancelling all or part of the
common shares acquired through the program.The program
will be executed within the limits of relevant laws and
regulations, the existing authority granted
at Ahold Delhaize’s 2020 annual general meeting of
shareholders on April 8, 2020, and the authority (if granted)
by the 2021 annual general meeting on April 14,
2021.
The share buyback program is executed
in several tranches. For each of them, a dealer is mandated to
execute the purchase of the shares at his own discretions in
compliance with the Market Abuse Regulation (“MAR”) and within
pre-defined execution parameters. Shares are bought in the market
and accumulated on the treasury share account until cancellation.
Pursuant to the relevant statutory provisions, cancellation may not
be effected earlier than two months after a resolution to
cancel shares is adopted and publicly announced. Ahold
Delhaize is committed to the share buyback program, but
given the uncertainty caused by COVID-19, management will continue
to monitor macroeconomic developments. The program is also subject
to changes in corporate activities, such as material M&A
activity.
Ahold Delhaize will provide
regular updates on the progress of the program by means of press
releases.
Cautionary notice
This communication includes forward-looking statements. All
statements other than statements of historical facts may be
forward-looking statements. Words and expressions such as 2021,
expects, continue(s), maintaining, growth, strategy, aims, will be,
existing, if, until, committed, uncertainty, monitor, developments,
subject to or other similar words or expressions are typically used
to identify forward-looking statements.
Forward-looking statements are subject to risks, uncertainties
and other factors that are difficult to predict and that may cause
actual results of Koninklijke Ahold Delhaize N.V. (the
“Company”) to differ materially from future results expressed or
implied by such forward-looking statements. Such factors include,
but are not limited to, the risk factors set forth in the Company’s
public filings and other disclosures. Forward-looking statements
reflect the current views of the Company’s management and
assumptions based on information currently available to the
Company’s management. Forward-looking statements speak only as of
the date they are made and the Company does not assume
any obligation to update such statements, except as required by
law.
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