Ahold Delhaize has commenced its €1 billion share buyback programme, announced on 9 November 2022, which is to close before the end of 2023.
The initiative aims to support the company's Leading Together strategy by maintaining a balanced approach between funding growth in key channels and returning excess liquidity to shareholders.
The purpose of the programme is to reduce the capital of Ahold Delhaize, by cancelling all or part of the common shares acquired through the programme, the company noted.
Share Buyback Programme
The share buyback programme will be executed within the limits of relevant laws and regulations, the existing authority granted at Ahold Delhaize’s 2022 annual general meeting of shareholders on 13 April 2022 and the authority (if granted) by the annual general meeting on 12 April 2023.
It will be executed in one or several tranches and an intermediary will be mandated to execute the purchase of the shares at his/her own discretions during open and closed periods in compliance with the Market Abuse Regulation (MAR) and within pre-defined execution parameters.
As part of the programme, shares will be 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 added.
Ahold Delhaize also noted that the programme is subject to changes in corporate activities, such as but not limited to material M&A activity.