Royal Boskalis Westminster N.V. has announced the start of its share buyback program. Within the framework and based on the principles of its business plan for the 2014-2016 period Boskalis intends to execute a buyback program for up to 10 million of its own shares.
The program will be executed in the next two and a half years, subject to the development of the financial results and maintaining the desired balance sheet ratios. The program will be implemented by agents through purchases during open and closed periods.
This program will be carried out in accordance with the conditions of the authorization granted by the General Meeting of Shareholders of Boskalis on 13 May 2014 and under the condition that this authorization is granted again after 18 months.
Boskalis is authorized to cancel the ordinary shares that have been purchased under the program. Boskalis will publish a weekly press release stating the progress of the program.
Press Release, August 14, 2014