Zaandam, the Netherlands, January 15, 2024 – Ahold Delhaize has commenced the €1 billion share buyback program announced on November 8, 2023. The maximum duration of the program is up to the end of 2024, subject to extension of the buyback authority by the general meeting.
Maintaining a balanced approach between funding growth in key channels and returning excess liquidity to shareholders is part of Ahold Delhaize’s financial framework to support its Leading Together strategy. The purpose of the program is to reduce the capital of Ahold Delhaize, by cancelling all or part of the common shares acquired through the program.
The program will be executed within the limits of relevant laws and regulations, the existing authority granted at Ahold Delhaize’s 2023 annual general meeting of shareholders on April 12, 2023 and the authority (if granted) by the annual general meeting on April 10, 2024. At the current share price, the program represents approximately 37.8 million shares, or 4% of total shares outstanding.
The share buyback program is executed in one or several tranches. For each of them, an intermediary is mandated to execute the purchase of the shares at his own discretions 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. Ahold Delhaize is committed to the share buyback program, but the program is subject to changes in corporate activities, such as but not limited to material M&A activity.
Ahold Delhaize will provide regular updates on the progress of the program by means of press releases.
This communication includes forward-looking statements. All statements other than statements of historical facts may be forward-looking statements. Words such as up to, the end of, 2024, subject to, maintaining, growth, support, strategy, reduce, will, if granted, pre-defined, until, may, after, committed, or other similar words or expressions are typically used to identify forward-looking statements.
Forward-looking statements are subject to risks, uncertainties and other factors that are difficult to predict and that may cause actual results of Koninklijke Ahold Delhaize N.V. (the “Company”) to differ materially from future results expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the risk factors set forth in the Company’s public filings and other disclosures. Forward-looking statements reflect the current views of the Company’s management and assumptions based on information currently available to the Company’s management. Forward-looking statements speak only as of the date they are made and the Company does not assume any obligation to update such statements, except as required by law.