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Netherlands : Fugro announces share buyback program to neutralise dilutive effect of stock dividend

June 6, 2014



Following the announcement of the stock dividend conversion ratio on 2 June 2014, Fugro will start an open market buyback program of approximately 1.7 million (certificates) of shares. Based on the closing price of the Fugro certificate of shares on NYSE Euronext on 2 June 2014, this would be equivalent to approximately EUR 71.5 million. The open market share buyback program will start today and is expected to be completed before 18 August 2014, subject to extension or acceleration of the program.

The objective of the program is to neutralise the dilutive effect of the stock dividend, by repurchase and cancellation of the same number of (certificates of) shares that will be issued in relation to the 2013 dividend as from 6 June 2014.

The program, for which Fugro has engaged a third party, will be executed within the limitations of the existing authority granted at Fugro s Annual General Meeting of 6 May 2014.


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Source: TendersInfo (India)


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