The company has repurchased the maximum number of 51 million ordinary shares as announced per the start of the first tranche of the share buyback programme on 1 March 2022 for a total consideration of €159.2 million. The average price per share amounted to €3.12.
The first tranche is part of PostNL’s share buyback programme that has a total value of maximum €250 million. The remainder value of the programme is €90.8 million and will be executed in 2023.
PostNL intends to use any repurchased shares under the programme to cover its obligations under share-based remuneration arrangements and to deliver future dividend that may be partly paid in stock, at the choice of the shareholder. The remaining number of the repurchased shares will be cancelled.
PostNL has engaged BofA Securities Europe SA to execute the share buyback programme on its behalf and to make trading decisions independently of PostNL.
PostNL will provide weekly updates on the progress of the programme via press releases and reports in this section of the website.