Bekaert launches its Share Buyback Program
At the occasion of the release of Bekaert’s 2021 annual results on 25 February 2022, Bekaert announced that its Board had approved a share buyback program for a total amount up to € 120 million over a period up to 12 months under the authorization granted by its Extraordinary General Meeting of 13 May 2020 (the “Program”).
Bekaert announces today that it will commence the first tranche of this buyback program for an aggregate amount up to € 30 million (the “Initial Program”).
The Initial Program will commence on 18 March 2022 and will end on or before 4 May 2022.
Bekaert has appointed Kepler Cheuvreux SA as independent intermediary to repurchase the shares on its behalf and to make trading decisions under the Initial Program independently of Bekaert.
As announced previously, 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.
During the Initial Program, 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 Initial Program, will be announced in due course.