Ahold Delhaize has announced that it has commenced the €1 billion share buyback programme announced on 15 November 2021.
The company added that it expects to complete the programme before the end of 2022.
The share buyback programme aims to reduce the capital of Ahold Delhaize by cancelling all or part of the common shares acquired through the programme.
The company focuses on maintaining a balanced approach between funding growth in key channels and returning excess liquidity to shareholders to support the financial framework of its Leading Together strategy.
Share Buyback Programme
The share buyback programme will be executed in one or several tranches.
For each tranche, the company mandates an intermediary to execute the purchase of the shares at his own discretion during open and closed periods in compliance with the Market Abuse Regulation (MAR) 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, the company noted.
Ahold Delhaize added that it is committed to the share buyback programme, but the management will continue to monitor macroeconomic developments caused by COVID-19.
The programme is also subject to changes in corporate activities, such as material M&A activity, it added.