Philips Completes Cancellation of 8.8 Million Shares

Source: www.gulfoilandgas.com 7/4/2022, Location: Europe

Royal Philips has completed the cancellation of 8,758,455 of its shares. The cancelled shares were acquired as part of the EUR 1.5 billion share repurchase program for capital reduction purposes that was announced on July 26, 2021. Philips’ current issued share capital amounts to EUR 177,863,016.40 representing 889,315,082 common shares. As communicated earlier, Philips intends to have 19,571,218 shares delivered through the early settlement of forward contracts (entered into as part of the same share repurchase program) and to cancel those as well, which would result in 869,743,864 issued common shares at year-end 2022 (2021: 883,898,969).


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