Bekaert announces the sixth tranche of its Share Buyback Program
Bekaert announces today that it will start the sixth tranche of its buyback program, for a total maximum consideration of up to € 30 million (the Sixth Tranche), on 11 May 2023.
Bekaert completed the fifth tranche of the buyback program on 3 May 2023. In aggregate, between 1 March 2023 and 3 May 2023, the company repurchased 725 443 ordinary shares for an aggregate consideration of € 30 million. Under the first five tranches of the buyback program the company repurchased 4 213 787 ordinary shares for an aggregate consideration of € 147.3 million.
It is intended that, subject to market conditions, the Sixth Tranche will be completed prior to the release of the half year results, scheduled for 28 July 2023.
Bekaert has appointed Kepler Cheuvreux SA as independent intermediary to repurchase the shares on its behalf and to make trading decisions under the Sixth 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, 3 488 344 treasury shares were cancelled.
During the Sixth 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.
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