Zaandam, the Netherlands, 2017-Jan-11 — /EPR Retail News/ — Ahold Delhaize today (January 9, 2017) commences the €1 billion share buyback program announced on December 7, 2016 and expects to complete the program before the end of 2017.
Maintaining a balanced approach between funding growth in key channels and returning excess liquidity to shareholders is part of Ahold Delhaize’s financial framework to support its Better Together strategy. The purpose of the 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 by intermediaries allowing the execution of share repurchases in the open market during open and closed periods. The program will be executed within the limits of relevant laws and regulations and the existing authority granted at Ahold’s 2016 annual general meeting of shareholders on April 19, 2016 and of the authority (if granted) by the annual general meeting on April 12, 2017.
Ahold Delhaize will provide regular updates on the progress of the program by means of press releases.
Source: Ahold Delhaize Group