Corbion has announced the start of a share buyback program and 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 on 17 May 2023. 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.
Corbion Q1 2024 interim statement including announcement € 20 million share buyback program
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