Bekaert announces the eighth tranche of its Share Buyback Program
17 Novembre 2023 - 7:45AM
Bekaert announces the eighth tranche of its Share Buyback Program
Bekaert announces the eighth tranche of its Share
Buyback Program
Bekaert closed the seventh tranche of the buyback program on
11 October 2023. In total, between 28 July 2023
and 11 October 2023, the company repurchased 699 463
ordinary shares for an aggregate consideration of
€ 30 million. Under the first seven tranches of the
buyback program the company repurchased 5 522 266
ordinary shares for an aggregate consideration of
€ 202.8 million.
Bekaert announces today that it will start the eighth tranche of
its buyback program, for a total maximum consideration of up to
€ 30 million (the Eighth Tranche), on
17 November 2023. It is intended that, subject to market
conditions, the Eighth Tranche will be completed prior to the
release of the 2023 full year results, scheduled for
1 March 2024.
Bekaert has appointed Kepler Cheuvreux SA as independent
intermediary to repurchase the shares on its behalf and to make
trading decisions under the Eighth Tranche independently of
Bekaert.
As announced previously, the purpose of the buyback program is
to reduce the issued share capital of the company and all shares
repurchased as part of this arrangement will be cancelled. So far,
4 600 889 treasury shares were cancelled.
During the Eighth 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.
- p231117E - Bekaert announces the eighth tranche of its Share
Buyback Program
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