Eindhoven, the Netherlands – Philips Lighting (Euronext: LIGHT), the world leader in lighting, today announced that it has repurchased 338,652 shares in the period May 7, 2018 to May 11, 2018. The shares were repurchased at an average price of EUR 26.26 per share and an aggregate amount of EUR 8.89 million.
As a result of the repurchase of these shares, Philips Lighting’s interest in its own shares has risen above 3% and as a result, the company notified the Netherlands Authority for the Financial Markets (AFM).
These repurchases were made as part of the company’s repurchase program, which was announced on May 2, 2018. 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 492,652 shares for a total consideration of EUR 12.98 million.
Details on the share buyback transactions can be found here.