TomTom announced the start of its share buyback program to repurchase ordinary TomTom shares for an amount up to €50 million.
TomTom will use the shares to cover its commitments arising from its stock option and share plans. Based on the closing price of the TomTom share on Euronext Amsterdam on September 18 2017 of €9.29, this program represents approximately 2.3 percent of TomTom’s issued share capital.
The share buyback program will ultimately end on December 29 2017, unless the maximum number of 5,384,450 shares has been repurchased prior to that date.
