TomTom (TOM2) today announced that it has repurchased 1,202,912 ordinary TomTom shares at an average price of €6.69 per share in the period from 23 March 2020 up to and including 30 March 2020. The aggregate consideration of this repurchase was €8.0 million. These repurchases were made as part of the company’s share buyback program, which was announced on 2 March 2020.
The total number of shares repurchased under this program up to and including 30 March is 2,354,433 shares for a total aggregate consideration of €16.6 million.
TomTom will use the shares to cover its commitments arising from its stock option and share plans. Details on the share buyback transactions can be found on the company’s website.
As separately disclosed, TomTom has decided to suspend the share buyback program as of 31 March 2020, until further notice, as a precautionary measure because of the economic uncertainty following the COVID-19 pandemic.