Completion of the Share Buyback Program and Update on the Liquidity Agreement
Period from 9 February 2023 to 15 February 2023
Share Buyback Program fully implemented
On 25 February 2022, Bekaert announced a program (the “Program”) to buy back own shares up to € 120 million. The Program was split into four equal tranches of up to € 30 million each.
Bekaert announces today that it completed the fourth and last tranche of the Program. During the fourth tranche, which started on 18 November 2022 and ended on 13 February 2023, the company repurchased 820 929 ordinary shares for an aggregate consideration of € 30 million. Under the full Program, the company repurchased 3 488 344 ordinary shares for an aggregate consideration of € 117.3 million.
As previously announced, the purpose of the 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, 1 449 409 treasury shares were cancelled. The balance of the repurchased shares (2 038 935 shares) will be cancelled before the end of February 2023.
Bekaert’s reference shareholder, Stichting Administratiekantoor Bekaert (STAK) and the parties acting in concert with the STAK, have confirmed that they will take appropriate measures so that their voting rights in Bekaert’s share capital will not exceed the level they had at the start of the Program (i.e. 36.13%) by the end of February 2023.
During the period from 9 February 2023 to 13 February 2023, Kepler Cheuvreux on behalf of Bekaert has bought 38 369 shares.
The table below provides an overview of the transactions under the fourth tranche of the Program during the period from 9 February 2023 to 13 February 2023:
| Repurchase of shares | ||||||
| Date | Market | Number of Shares | Average Price paid (€) | Highest Price paid (€) | Lowest Price paid (€) | Total Amount (€) |
| 9 February 2023 | Euronext Brussels | 6 345 | 40.24 | 40.48 | 39.80 | 255 323 |
| MTF CBOE | 3 952 | 40.21 | 40.44 | 39.78 | 158 910 | |
| MTF Turquoise | 765 | 40.25 | 40.44 | 39.96 | 30 791 | |
| MTF Aquis | 1 497 | 40.25 | 40.46 | 39.92 | 60 254 | |
| 10 February 2023 | Euronext Brussels | 7 833 | 39.93 | 40.40 | 39.64 | 312 772 |
| MTF CBOE | 4 808 | 39.95 | 40.38 | 39.62 | 192 080 | |
| MTF Turquoise | 889 | 39.96 | 40.36 | 39.76 | 35 524 | |
| MTF Aquis | 1 893 | 39.96 | 40.38 | 39.62 | 75 644 | |
| 13 February 2023 | Euronext Brussels | 7 725 | 39.74 | 39.90 | 39.60 | 306 992 |
| MTF CBOE | 2 662 | 39.76 | 39.90 | 39.64 | 105 841 | |
| MTF Turquoise | — | — | — | — | — | |
| MTF Aquis | — | — | — | — | — | |
| Total | 38 369 | 39.98 | 40.48 | 38.86 | 1 534 131 | |
Liquidity agreement
In relation to the renewed liquidity agreement with Kepler Cheuvreux announced on 2 September 2022, Bekaert announces today that Kepler Cheuvreux on behalf of Bekaert has bought 2 400 shares during the period from 9 February 2023 to 15 February 2023 on Euronext Brussels. During the same period, Kepler Cheuvreux on behalf of Bekaert has sold 5 500 shares on Euronext Brussels.
The tables below provide an overview of the transactions under the liquidity agreement during the period from 9 February 2023 to 15 February 2023:
| Purchase of shares | |||||
| Date | Number of Shares | Average Price (€) | Highest Price (€) | Lowest Price (€) | Total Amount (€) |
| 9 February 2023 | 0 | 0.00 | 0.00 | 0.00 | 0 |
| 10 February 2023 | 400 | 39.90 | 39.90 | 39.90 | 15 960 |
| 13 February 2023 | 1 200 | 39.69 | 39.80 | 39.54 | 47 628 |
| 14 February 2023 | 800 | 39.45 | 39.50 | 39.40 | 31 560 |
| 15 February 2023 | 0 | 0.00 | 0.00 | 0.00 | 0 |
| Total | 2 400 | — | — | — | 95 148 |
| Sale of shares | |||||
| Date | Number of Shares | Average Price (€) | Highest Price (€) | Lowest Price (€) | Total Amount (€) |
| 9 February 2023 | 1 900 | 40.15 | 40.40 | 39.80 | 0 |
| 10 February 2023 | 0 | 0.00 | 0.00 | 0.00 | 0 |
| 13 February 2023 | 0 | 0.00 | 0.00 | 0.00 | 0 |
| 14 February 2023 | 2 000 | 39.86 | 40.00 | 39.80 | 79 720 |
| 15 February 2023 | 1 600 | 40.20 | 40.40 | 39.90 | 64 320 |
| Total | 5 500 | — | — | — | 144 040 |
The balance held by Bekaert under the liquidity agreement at the end of the period is 37 636 shares.
On 15 February 2023 after closing of the market, Bekaert holds 4 750 289 own shares, or 8.05% of the total number of the outstanding shares.
This information is also made available on the investor relations pages of our website.
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