Business News

AkzoNobel Share Buyback Program (Week 30 of 2008) – Second €1 Billion Tranche Starts

Tuesday 29. July 2008 - AkzoNobel has announced that, in line with the launch of its €1 billion share buyback program on March 17, 2008, the company has repurchased 1,539,492 ordinary shares in the period July 21 until July 25, 2008. Shares were repurchased at an average price of €43.03.

The total number of shares repurchased under this program to date is 20,132,263 ordinary shares for a total consideration of €977.6 million.
The €1 billion program is the first tranche of a €3 billion share buyback program.
We expect to conclude this first €1 billion tranche in the course of this week. The share buyback program will continue with the start of the second €1 billion tranche this week and we expect it to be completed by the end of 2008.