The first tranche will be executed in 2022 and is set at between €160 million and €170 million. The execution of the programme has started on 1 March 2022 and is expected to be completed no later than October 2022.
The first tranche of the share buyback programme will be executed within the limitations of the existing authority granted by the Annual General Meeting on 20 April 2021, and will be carried out in compliance with the Market Abuse Regulation. 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.