PostNL commences €250 million share buyback programme
The Hague, the Netherlands,?1 March 2022 – PostNL today commences the execution of the share buyback programme with a value of maximum €250 million announced on 25 January 2022. The execution of the first tranche of the programme, of between €160 million and €170 million, with a maximum of 51 million shares, is expected to be completed no later than October 2022. The second tranche will be executed in 2023.
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 bought-back shares will be cancelled.
PostNL has engaged BofA Securities Europe SA to start the execution of the share buyback programme on its behalf and to make trading decisions independently of PostNL. In accordance with regulations, PostNL will inform the market about progress made in the execution of this programme through press releases and via its website. The first progress report will be published on 8 March 2022.
Caution on forward-looking statements
Some statements in this press release are ‘forward-looking statements’. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that may occur in the future. These forward-looking statements involve known and unknown risks, uncertainties and other factors that are outside of our control and impossible to predict, and that may cause actual results to differ materially from any future results expressed or implied. These forward-looking statements are based on current expectations, estimates, forecasts, analyses and projections about the industries in which we operate and management's beliefs and assumptions about possible future events. You are cautioned not to put undue reliance on these forward-looking statements, which only apply as of the date of this press release and are neither predictions nor guarantees of possible future events or circumstances. We do not undertake any obligation to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, except as may be required under applicable securities law.
We are PostNL, the mail and logistics solutions provider for all. With our mail and parcel deliverers who get everywhere, our over 4,800 PostNL locations and 11,000 postboxes, we are always nearby. We aim to be our customers’ favourite deliverer by making it as easy as possible for them to send and receive parcels and letters. Our over 37,000 people are right at the heart of society. On weekdays, we deliver an average 1.2 million parcels and 8 million letters across the Benelux region. Our focus is on quality for our customers, creating opportunities for our people and adding value for our stakeholders through growth, digitalisation and sustainability initiatives.
We optimise and support our physical networks by using smart digital solutions and launching new propositions that create value for our customers. We build long-lasting working relationships by acting as a good employer and client for everyone who works for and with us. To make our deliveries as sustainable as possible, we cover a lot of kilometres on foot or by bicycle or e-bike, provide innovative city logistics, use cleaner fuels, and use electric vans and light electric trucks. PostNL NV is a listed company with revenues of €3.5 billion in 2021. We provide deliveries of mail and parcels, logistics solutions for e-commerce, and cross-border solutions.