Bekaert - Update on the Share Buyback Program
Bekaert starts Share Buyback Program
Following the release of Bekaert’s trading update for the nine months to September 2024, and the announcement that its Board has approved a new share buyback program for a total amount of up to € 200 million over a period of up to 24 months (the “Program”), Bekaert today announces the start of a tranche of the Program to purchase an aggregate amount of up to € 25 million (the “Tranche”). This Tranche will end on or before 21 February 2025. As announced previously, the purpose of the Program is to cancel all shares repurchased.
The approval by Bekaert’s Board of the Program falls under the authorization granted by Bekaert’s Extraordinary General Meeting of 8 May 2024. In accordance with the authorization of the Extraordinary General Meeting, the maximum number of shares which may be purchased under the Program is limited to 20% of the total number of outstanding shares of the Company, minus the number of own shares already held or accepted in pledge (as the case may be) by the Company (whether under the Program, the liquidity agreement or otherwise), so that the total number of own shares held and accepted in pledge by the Company shall never exceed 20% of the total number of shares outstanding.
Bekaert has appointed Kepler Cheuvreux SA as independent intermediary to repurchase the shares on its behalf and to make trading decisions in respect of this Tranche of the Program, independently of Bekaert.
During the Tranche, Bekaert will regularly publish press releases with updates on the progress made, as required by law. This information will also be available on the investor relations pages of our website. Any further tranches of the Program, which may be conducted after completion of the Tranche, will be announced in due course.
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