Bekaert to implement a liquidity contract
Bekaert announces that it has entered today into a liquidity agreement with Kepler Cheuvreux relating to its ordinary shares admitted to trading on Euronext Brussels (ISIN Code BE0974258874). This agreement provides for the purchase and sale by Kepler Cheuvreux of Bekaert shares on the regulated market of Euronext Brussels.
Kepler Cheuvreux will be acting in the name and on behalf of Bekaert and within the framework of a discretionary mandate, as authorized by the Extraordinary General Meeting of Bekaert of 13 May 2020.
In accordance with the conditions specified by this Extraordinary General Meeting (i) the total number of own shares held by Bekaert pursuant to such authorization shall never exceed twenty per cent of the total number of Bekaert shares outstanding and (ii) the acquisitions of the shares must be made at a price ranging between one euro and thirty per cent above the arithmetic average of the closing price of the Bekaert share during the last thirty trading days preceding the resolution of the Board of Directors implementing the authorization of the Extraordinary General Meeting (which average closing price was € 36.571 per share).
The programme will start on 10 September 2021 for a 12-month renewable period.
To implement the programme, Bekaert is making 100 000 treasury shares available to Kepler Cheuvreux.
The purpose of the liquidity contract is to support the liquidity of the Bekaert shares on Euronext Brussels.
Weekly reports will be provided on the transactions by means of press releases published on the Bekaert website: https://www.bekaert.com/en/about-us/news-room/regulated-information.