Ahold Delhaize announced the beginning of its 1 billion Euro share buyback program, which is expected to be completed before the end of 2023.
The purpose of the program is to help reduce the capital of the company by canceling all or part of the common shared acquired through the program, the organization shared.
Executed within the limits of relevant laws and regulations, the existing authority granted Ahold Delhaize’s 2022 annual general meeting of shareholders on April 12, 2022, and the authority if granted by the annual general meeting on April 12, 2023.
The share buyback program is executed in one or several tranches. For each of them, an intermediary is mandated to execute the purchase of the shares at his own discretion during open and closed periods in compliance with the Market Abuse Regulation and within pre-defined execution parameters.
Shares are bought in the market and accumulated on the treasury share account until cancellation. Pursuant to the relevant statutory provisions, cancellation may not be effected earlier than two months after a resolution to cancel shares is adopted and publicly announced. Ahold Delhaize is committed to the share buyback program, but the program is subject to changes in corporate activities, such as but not limited to material M&A activity.