Philips Lighting Completes Cancellation of 3.5 Million Shares

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May.8, 2017 - 10:50 — lindsayhou

Philips Lighting Completes Cancellation of 3.5 Million Shares

(Philips Lighting/ LEDinside)

Philips Lighting announced that it has completed the cancellation of 3.5 million its own shares.

Philips Lighting repurchased the shares from its majority shareholder, Royal Philips, (Euronext Amsterdam ticker: PHIA) on February 8, 2017 for an aggregate amount of EUR 81.9 million. The repurchase was part of an accelerated bookbuild offering by Royal Philips to institutional investors of 26 million shares in Philips Lighting at a price of EUR 23.40 per share.

After this cancellation, Philips Lighting’s issued share capital consists of 146.5 million ordinary shares, including 3.5 million shares held in treasury. Philips Lighting now holds 2.39% of its own issued shares. The company notified the Netherlands Authority for the Financial Markets (AFM) of the change in its issued share capital and that the company’s interest in its own shares has fallen below 3%.

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