Corbion announced the start of a share buyback program and will repurchase its own ordinary shares in the amount of up to € 20.0 million and for a number of ordinary shares not exceeding the authority granted by the annual General Meeting of Shareholders of Corbion*. All repurchased shares will be cancelled to reduce Corbion's issued share capital. The buyback program will commence on April 29 and is expected to be completed before 31 October 2024 or sooner if the repurchase amount is reached earlier. The maximum number of ordinary shares to be repurchased is approximately 1.8% of Corbion's issued share capital, based on the closing price per share on 25 April 2024 of € 18.63.
The execution of the share buyback program will be done under the terms of an engagement letter with ABN AMRO Bank N.V., performed in compliance with the safe harbour provisions for share repurchases. Accordingly, transactions may be carried out during closed periods.
The share buyback program will be executed in compliance with applicable rules and regulations, including the Market Abuse Regulation 596/2014 and the Commission Delegated Regulation (EU) 2016/1052. Corbion will provide weekly updates on the progress of the program, in line with applicable regulations.
* The current authorization of the general meeting has been obtained on 17 May 2023 and is valid for 18 months, ending on 17 November 2024. Should the general meeting approve a new authorization of the Management Board to repurchase shares in its meeting to be held on 15 May 2024, the new authorization will replace the authorization dated on 17 May 2023.
Corbion Q1 2024 interim statement including announcement € 20 million share buyback program
Weekly overview Corbion share buyback program 2024
Weekly progress on Corbion share buyback program 29 April – 3 May 2024
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