Koninklijke Philips N.V.
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Publicatie datum
28 feb 2006 - 09:11
Statutaire naam
Koninklijke Philips N.V.
Titel
PHILIPS COMPLETES EUR 1.5 BILLION SHARE BUYBACK PROGRAM
Bericht
28 February 2006
PHILIPS COMPLETES EUR 1.5 BILLION SHARE BUYBACK PROGRAM
Amsterdam, The Netherlands – Royal Philips Electronics (NYSE:PHG, AEX:PHI) today announced it has completed a EUR 1.5 billion share buyback program for the purpose of capital reduction. The program was launched on August 15, 2005. This program followed a first share buyback program launched on January 27, 2005, through which Philips bought back EUR 750 million worth of shares for the purpose of capital reduction (EUR 500 million) and to hedge long-term incentive and employee stock purchase plans (EUR 250 million). Through these two share buyback programs, Philips bought back approximately 99.1 million of its own shares.
Following shareholder approval at Philips’ Annual General Meeting of Shareholders on March 30, 2006, Philips will cancel 86.8 million of these shares. This will leave Philips with a total of 1,229.3 million shares issued. Philips holds 42.0 million shares for hedging of long-term incentive and employee stock purchase plans at this moment.
Philips expects to account for the cancellation of these shares in its second quarter 2006 results. Philips will continue to evaluate the best use of its available cash from a shareholder value creation perspective.
For further information, please contact:
Jayson Otke
Philips Corporate Communications
Tel: +31 20 59 77215
Email: jayson.otke@philips.com
About Royal Philips Electronics
Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is one of the world's biggest electronics companies and Europe's largest, with sales of EUR 30.4 billion in 2005. With activities in the three interlocking domains of healthcare, lifestyle and technology and 159,200 employees in more than 60 countries, it has market leadership positions in medical diagnostic imaging and patient monitoring, color television sets, electric shavers, lighting and silicon system solutions. News from Philips is located at www.philips.com/newscenter.
Datum laatste update: 18 december 2025