Nestlé Completes its CHF 15 Billion Share Buyback
As part of its CHF 25 billion buyback programme, Nestlé S.A. intends to launch a further share buyback of CHF 10 billion following the publication of the half-year results on 12 August 2009 and foreseen to be completed by end 2010.
29 Jul 2009 Pursuant to the applicable regulatory requirements, Nestlé S.A. has announced that it has completed its CHF 15 billion share buyback initiated on 24 August 2007 as part of its CHF 25 billion buyback programme. Nestlé S.A. repurchased 314,060,000 of its shares (adjusted to reflect the 10:1 share split effected in 2008) for a total of CHF 15 billion. The average purchase price per share was CHF 47.76 (also adjusted to reflect the 10:1 share split).
Amongst those shares repurchased, 10,072,500 shares (corresponding to 100,725,000 shares after the share split) were cancelled on 19 June 2008 and 180,000,000 shares were cancelled on 30 June 2009, following the resolutions on capital reduction made by the 2008 and 2009 Annual General Meetings of shareholders of Nestlé S.A. The Board of Directors intends to propose to future General Meetings to reduce the share capital by cancellation of the remaining shares repurchased.
As part of its CHF 25 billion buyback programme, Nestlé S.A. intends to launch a further share buyback of CHF 10 billion following the publication of the half-year results on 12 August 2009 and foreseen to be completed by end 2010.
