Zaandam, the Netherlands - Ahold today commenced the €500 million share buyback program announced on February 26, 2015 and expected to be finalized within 12 months.
The purpose of the share buyback program is to return value to shareholders. The program will be executed by intermediaries allowing the execution of share repurchases in the open market during open and closed periods.
The program will be executed within the limitations of the existing authority granted at Ahold's 2014 Annual General Meeting of Shareholders and, if granted, the authority proposed to shareholders at Ahold's 2015 Annual General Meeting of Shareholders on April 15, 2015.
Ahold may cancel all or part of the common shares acquired through the program. Ahold will provide updates on the progress of the program by means of weekly press releases.
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Ahold via Globenewswire
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