The € 50 million share buyback program that commenced on 21 March 2016 was completed on 28 October 2016.
Under this program a total of 2,100,209 ordinary shares have been repurchased at a volume-weighted average price of € 22.422 per share, for a total consideration of € 47,090,953. In addition, 124,000 financing preference shares (series FPA, FPB and FPC) have been repurchased at par for a total consideration of € 2,909,040.
2,042,172 ordinary shares and the 124,000 financing preference shares will be cancelled before the end of 2016, the remainder of the ordinary shares will be kept as treasury shares.
As part of its “Disciplined Value Creation” strategy, Corbion periodically reviews its debt position in relation to the investment plans, and decides upon any further distributions.
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