Health & nutrition company Royal DSM said on Monday that it plans to repurchase 500,000 ordinary shares as well as 1,100,000 ordinary shares.

Starting 19 March 2018, the company intends plans to repurchase 500,000 ordinary shares to cover commitments under its share based compensation plans.

Beginning 14 May 2018, the company proposes to repurchase 1,100,000 ordinary shares to cover commitments for stock dividend under the 2017 final dividend.

Based on the closing price of the DSM share on Euronext Amsterdam on 16 March 2018, the repurchase would be equivalent to about EUR130m.

This repurchase price will be based on the daily VWAP (Volume Weighted Average Price). Volumes to be repurchased will be on average 5% of the daily trading volume on the open market, within a bandwidth of 2-8% per day. The total share repurchase plan is anticipated to continue into Q2 2018, said the company.

The total number of shares to be repurchased under this programme represents approximately 0.9% of ordinary shares issued, concluded the company.