Unilever PLC and Unilever NV announce the commencement of the share buy-back programme of up to €500 million aggregate market value in shares in the capital of Unilever NV and/or Unilever PLC announced in February 2005.
The purpose of the programme is to enhance earnings per share. This is in addition to the replenishment by Unilever NV of treasury shares used for the conversion of its €0.05 preference shares, also announced in February 2005, under which 14.2M shares have been bought back as of 30 September.
The buy-back may be of either Unilever NV shares, Unilever PLC shares or both. The buy-back will take place within the limitations of the authority granted to the Boards by the respective general meetings of shareholders. During the close period the buyback will be made pursuant to irrevocable agreements.