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Philips to repurchase up to 3.2 million shares to cover long-term incentive and employee stock purchase plans

June 13, 2022

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA) today announced that it will repurchase up to 3.2 million shares to cover certain of its obligations arising from its long-term incentive and employee stock purchase plans. At the current share price, the shares represent an amount of up to approximately EUR 68 million.

The repurchases will be executed through one or more individual forward transactions, expected to be entered into in the second and/or the third quarter of 2022, in accordance with the Market Abuse Regulation and within the limits of the authorization granted by the company’s General Meeting of Shareholders on May 10, 2022. Philips expects to take delivery of the shares in 2024. Further details will be available via this link.

For further information, please contact:

Ben Zwirs
Philips Global Press Office
Tel.: +31 6 1521 3446
E-mail: ben.zwirs@philips.com

Derya Guzel
Philips Investor Relations
Tel.: +31 20 59 77055
E-mail: derya.guzel@philips.com

About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and well-being, and enabling better outcomes across the health continuum – from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips generated 2021 sales of EUR 17.2 billion and employs approximately 79,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

Forward-looking statements
This release contains certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. Examples of forward-looking statements include statements made about the strategy, estimates of sales growth, future EBITA, future developments in Philips’ organic business and the completion of acquisitions and divestments. By their nature, these statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these statements.

Philips announces positive three-year clinical research results from its Tack Optimized Balloon Angioplasty (TOBA) II below-the-knee (BTK) clinical trial

June 13, 2022

  • For below-the-knee arterial dissection repair following balloon angioplasty, innovative medical technology shows sustained treatment effect and positive impact on quality of life for patients with critical limb ischemia (CLI)
  • First and only FDA-approved device of its kind demonstrates consistently high rates of target limb salvage (93.9%) and freedom from clinically-driven target lesion revascularization (69.6%)

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced the latest results from the Tack Optimized Balloon Angioplasty (TOBA) II below-the-knee (BTK) clinical trial, demonstrating that the Philips endovascular system – Tack (4F) – the first and only device of its kind approved by the U.S. Food and Drug Administration (FDA), provides a sustained treatment effect and positive impact on quality of life for patients with critical limb ischemia (CLI), a severe stage of peripheral arterial disease (PAD), out to three years of clinical follow-up.

CLI occurs when an obstruction in an artery severely reduces blood flow, causing painful wounds, debilitating rest pain, recurring ulcers and life-threatening infection. If left untreated, 50% of patients with CLI will undergo an amputation or die within the first year [1].

The TOBA II BTK trial studied the safety and efficacy of post-angioplasty dissection repair using the Philips Tack endovascular system in patients with CLI and infrapopliteal disease. The Tack endovascular system is a unique specialized implantable device to optimize the treatment of dissections in patients with CLI. Endpoints included rates of major adverse events, target lesion revascularization (TLR), target limb salvage (TLS) and quality of life (QoL) metrics.

“Based on 36-month follow-up in the TOBA II BTK trial, which is following 233 patients at 41 sites internationally, the Tack endovascular system offers a new standard in repairing below-the-knee arterial dissections,” said co-principal investigator George Adams, M.D., director of cardiovascular and peripheral vascular research at UNC Rex Hospital in Raleigh, N.C., and clinical associate professor of medicine at the University of North Carolina at Chapel Hill, who presented the results to hundreds of interventional cardiologists, interventional radiologists and vascular surgeons at the New Cardiovascular Horizons (NCVH) conference in New Orleans, USA, on June 2.

Adams added: “The device stands to significantly benefit patients with CLI whose treatment with balloon angioplasty often leads to this particular complication, which typically goes untreated and unaddressed, to the detriment of long-term clinical outcomes.”

The three-year analysis of TOBA II BTK results includes the following clinical insights on the Tack endovascular system:

  • 93.9% target limb salvage in CLI patients at three years
  • 69.6% freedom from clinically-driven target lesion revascularization across all patients at three years
  • Sustained improvement in established clinical classification systems including the Rutherford clinical category and hemodynamics in ankle- and toe-brachial indices
  • Sustained improvement in patient-reported quality-of-life and mobility measures

“In treating peripheral arterial disease below the knee with balloon angioplasty, dissections of the popliteal, tibial and peroneal arteries occur with considerable frequency,” explained Chris Landon, business leader of Image Guided Therapy Devices at Philips. “With the Tack endovascular system from Philips, interventionists can reliably repair below-the-knee arterial dissections – and in doing so, improve major amputation rates and quality of life.”

Philips has previously reported data from the TOBA II and III studies, which evaluated the Tack endovascular system for superficial femoral and proximal popliteal artery dissection repair following uncoated balloon angioplasty and/or drug-coated balloon (DCB) angioplasty. These multicenter, global and European studies demonstrated that the use of the Tack endovascular system resulted in overwhelming dissection resolution following uncoated or DCB angioplasty.

  • In TOBA II, which involved uncoated and drug-coated balloons, dissection repair with the Tack System resulted in 89.6% and 86.5% 12-month primary patency (uncoated balloon group) and freedom from CD-TLR
  • In TOBA III, which involved drug-coated balloons, dissection repair with the Tack endovascular system resulted in 95.0% and 97.5% 12-month primary patency and freedom from CD-TLR

There were no major adverse events reported through 30 days in either study.

Together, the TOBA II, TOBA III and TOBA II BTK trials support the safety and efficacy of the Tack endovascular system for post-PTA dissection repair in above- and below-the-knee arterial disease. The 36-month TOBA II BTK data reported at NCVH adds to the robust body of clinical evidence supporting the safety and effectiveness of the Tack Endovascular System in both vessel beds.

Philips Tack endovascular system is currently available for sale in the USA and some EU countries. Further information, including safety information, is available here. The system is part of the company’s peripheral vascular portfolio, which includes advanced interventional imaging systems for precision guidance including Vascular Suite on its Image Guided Therapy System – Azurion; intravascular ultrasound (IVUS) catheters to assess the location of the disease and lesion morphology and guide and confirm the treatment; peripheral atherectomy devices to remove blockages; sculpting balloons to prep the vessel; and peripheral therapy devices, such as Philips’ Stellarex drug-coated balloon, to treat lesions.

[1] Hirsh AT, Jaskal ZJ, Hertzer, et al. ACC/AHA 2005 guidelines for the management of patients with peripheral arterial disease (lower extremity, renal, mesenteric, and abdominal aortic): executive summary a collaborative report from the American Association for Vascular Surgery/Society for Vascular Surgery, Society for Cardiovascular Angiography and Interventions, Society for Vascular Medicine and Biology, Society of Interventional Radiology, and the ACC/AHA Task Force on Practice Guidelines (Writing Committee to Develop Guidelines for the Management of Patients With Peripheral Arterial Disease) endorsed by the American Association of Cardiovascular and Pulmonary Rehabilitation; National Heart, Lung, and Blood Institute; Society for Vascular Nursing; TransAtlantic Inter-Society Consensus; and Vascular Disease Foundation. J Am Coll Cardiol. 2006 Mar 21;113(11):e463-654.

For further information, please contact:

Joost Maltha
Philips Global Press Office
Tel: +31 610 558 116
E-mail: joost.maltha@philips.com

Fabienne van der Feer
Philips Image Guided Therapy
Tel: + 31 622 698 001
E-mail: fabienne.van.der.feer@philips.com

About Royal Philips

Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and well-being, and enabling better outcomes across the health continuum – from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips generated 2021 sales of EUR 17.2 billion and employs approximately 79,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.


Indonesian Consulate mulls establishing liaison office in Labuan for travel documentation

The Indonesia Consulate General (Kota Kinabalu office) is considering setting up a liaison office on this island to facilitate travel documentation for more than 2,000 Indonesian migrant workers here.

Its consulate general, Rafail Walangitan said this, however, would depend on the urgency to facilitate the processing of documents like passports, stay permits and work permits.

“If we are unable to establish the liaison office, we can deploy our team to this island to help ease the process for our migrants here,” he said after paying a courtesy call on Labuan National Security Council (NSC) director, Mohd Hafiez Mohd Daud, here, today.

Rafail said (before the establishment of liaison office) the Indonesia Consulate General office in Kota Kinabalu would help speed up the travel documentation for Indonesians in Labuan travelling to the Kota Kinabalu office for renewal of passport and related documents.

“The process (renewal or for new passport) will usually take three days, hence, we can consider handling Indonesian immigration affairs (from Labuan) as a special case with a shorter processing time,” he said.

According to him, over 2,000 Indonesians in Labuan are working in various sectors like services (including as maids), construction and oil and gas.

“Importantly, we want our Indonesian migrants in Labuan to obey Malaysian laws and refrain from involving in any unlawful activities,” he said.

Rafail is leading a delegation from the Kota Kinabalu Indonesia Consulate General office for a two-day working visit from yesterday to several government establishments such as the Labuan Correctional Centre (prison), Manpower Department and NSC.

The group also had a discussion with the Labuan Chinese, Indian and Malay chambers of commerce for possible business matching in the future.

“Our visit to Labuan is to foster good rapport with Labuan-based Malaysian government leaders and business leaders,” Rafail said.

Source: BERNAMA News Agency

Angkasa hatching 100 cooperatives for poultry farming

Angkatan Koperasi Kebangsaan Malaysia Bhd (Angkasa) aims to create 100 cooperatives for the halal poultry industry in the country.

Its president Datuk Seri Dr Abdul Fattah Abdullah said henceforth, a minimum of 100 coops could be built each with a capacity of raising 50,000 chicken, thus contributing to the annual production of about 30 million birds.

He said the effort could increase the involvement of the cooperative movement in the field of agro-food and is in line with the government’s intention to see the sector contribute RM100 billion to the Gross Domestic Product (GDP) by 2030.

“We have seven million cooperative members nationwide. In terms of marketing, we will provide at least 3,000 outlets under the JiMAT SHOP Angkasa store flagship and we have identified 6,000 mosques that can be outlets.

“For us, the question of where to sell is not an issue, so long as this effort can be implemented to fruition,” he said at a press conference after witnessing the signing of a Memorandum of Understanding between Angkasa, Koperasi Negeri Johor and Mars Global Sdn Bhd here today.

Also present were Johor Angkasa chairman Sazali Abd Hamid and Mars Global Sdn Bhd chief executive officer Mohd Norulhizam Mohd Ramli.

Abdul Fattah said the cooperative could be set up through collaboration with chicken suppliers such as Mars Global Sdn Bhd in Johor through contract farms.

He said however, support from the state must be forthcoming in starting up the farm.

“We have to negotiate with the state government to secure a plantation area (for example, to set up) four coops which will require seven to 10 acres of land. If it can be done, the cooperative can expedite this effort and get the farm up and running,” he said.

He said the government’s allocation of RM500 million in agro-food fund offered to entrepreneurs would help the poultry farms to materialise.

“So I really hope the cooperatives can use this space and opportunity and request the government to channel this allocation to the cooperative movement, seeing the benefits that will impact the community and the national economy,” he said.

Source: BERNAMA News Agency

11,000 job opportunities on offer at two-day Career Carnival in Melaka

A total of 11,000 job opportunities are on offer at the Melaka Careertrans JaminKerja Keluarga Malaysia Career Carnival 2022 which will take place for two days beginning June 18 at the Melaka International Trade Centre (MITC), Ayer Keroh here.

State Unity, Community Relations, Labour and Consumer’s Affairs Committee chairman Ngwe Hee Sem said 37 employers including from government-linked companies (GLC) as well as various sectors such as manufacturing would take part in the career carnival organised by the Social Security Organisation (SOCSO).

“The annual event has been jointly organised by the state government and SOCSO since 2020. This time, we will also see the involvement of employers that will be offeringing job opportunities in the gig economy sector.

“We are also targetting more than 7,000 visitors to attend the carnival,” he said at a press conference in Ayer Keroh today.

Ngwe said in line with the transition to endemic phase which saw the reopening of various economic sectors, the carnival will also offer employment opportunities to job seekers including graduates as well as Sijil Pelajaran Malaysia (SPM) and Sijil Tinggi Persekolahan Malaysia (STPM) holders.

He said the organising of the carnival was also seen as capable of meeting the job placement needs and addressing the unemployment issues, especially in Melaka.

Meanwhile, Ngwe said those who are self-employed are also welcome to visit the career carnival to get more information about the SOCSO Self-Employment Social Security Scheme.

Source: BERNAMA News Agency

New policies to address EV ecosystem in Malaysia – Wee

Malaysia has to implement new policies to address various issues surrounding electric vehicles (EV) for the sector to flourish in the country, said Transport Minister Datuk Seri Dr Wee Ka Siong.

He said with EV becoming more prevalent throughout the world, it was inevitable for EV to become the mainstream development in Malaysia.

“We are currently in need of an ecosystem that will support the use of EV as the speed of building such infrastructure is slow,” he said in a posting on his Facebook today.

The accompanying Facebook posting showed that Wee received a courtesy call from Alpha ESS Co Ltd chief executive officer and co-founder Alfred Wang, where both of them exchanged views on EV development. Alpha ESS is a global energy storage solution and service provider.

Also present were Alpha ESS vice president and co-founder Zoe Zhang and its general manager for Malaysia Arthur Liu.

Wee said with the emphasis on various transportation sectors to go green, it is time for Malaysia to conduct in-depth studies on the implementation plans of introducing more charging stations in public places including shopping malls and highways, and on the disposal of old batteries.

Source: BERNAMA News Agency

KPLB allocates RM1.9 mln for KEMAS TVET programmes – Minister

The Rural Development Ministry (KPLB), through its Community Development Department (KEMAS), has allocated RM1.9 million for the implementation of the Technical and Vocational Education and Training (TVET) programmes for the B40 group.

Its deputy minister, Datuk Seri Abdul Rahman Mohamad said through the allocation, KEMAS is offering Malaysians, aged 18 to 30, to pursue certificate to diploma courses in women’s clothing manufacturing and fashion administration until June 26.

He said these programmes will be held at the KEMAS Seri Iskandar Skills Academy, Perak and will include guidance, courses and scholarships fully borne by the government to provide opportunities and help the low-income group change the lives of their families.

He said the TVET programmes implemented at the academy include the Malaysian Skills Certificate Level Two and Three, the Malaysian Skills Diploma Level Four, and the Malaysian Advanced Skills Diploma Level Five.

“If previously these KEMAS skills classes were implemented in the villages for housewives, now we have expanded it to the diploma level and they (diplomas) are recognised by the Skills Development Department of the Ministry of Human Resources,” he said at a press conference after attending the Pahang KEMAS Outstanding Service Award Ceremony here today.

Abdul Rahman said the academy which opened in 2007 had successfully produced 1,414 diploma graduates.

Meanwhile, he said KPLB will organise Expo TVET@KPLB at Dataran Amanjaya Mall in Sungai Petani, Kedah from June 23 to 25.

He said more than 100 TVET courses run by all 279 TVET institutions under KPLB will be promoted at the expo which is expected to be attended by over than 100,000 visitors.

“The expo will offer opportunities for the country’s youth to learn and venture into the TVET field under the KPLB educational institutions and (KPLB) agencies throughout the country.” he also said.

Earlier, Abdul Rahman presented outstanding service awards to 97 staff of the Pahang KEMAS to help motivate KPLB staff to continue to provide the best service to the community.

Source: BERNAMA News Agency