Unilever PLC said it will buyback EUR5 billion worth of its shares.
The company said the buy-back will be conducted in both Unilever PLC and Unilever N.V. ordinary shares. Under the terms of the programme, between EUR1.5 billion and EUR2.5 billion will be bought back on the London Stock Exchange in the form of Unilever PLC ordinary shares, and the balance of the aggregate €5 billion will be bought back on Euronext in Amsterdam in the form of Unilever N.V. ordinary shares (or depositary receipts in respect of such ordinary shares).
The buy-back programme will take place within the limitations of the authority granted to the Boards of each of Unilever PLC and Unilever N.V. by their respective general meetings held in April 2017, pursuant to which the maximum number of shares to be bought back by Unilever PLC is 128,345,000 and the maximum number of shares (or depositary receipts thereof) to be bought back by Unilever N.V. is 223,024,384.
The buy-back programme, the purpose of which is to reduce the capital of Unilever PLC and Unilever N.V.