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Bekaert announces the second tranche of its Share Buyback Program
Bekaert announces today that it will commence the second tranche of its €120 million buyback program which was previously announced on 25 February 2022 (the Program) for a total maximum consideration of up to € 30 million (the Second Tranche).
Bekaert completed the initial tranche of the Program on 4 May 2022. In aggregate, between 18 March 2022 and 4 May 2022, the company repurchased 766 295 ordinary shares for an aggregate consideration of € 27.3 million under the initial tranche of the Program.
It is intended that, subject to market conditions, the Second Tranche will be completed by the announcement of the company’s 2022 H1 results, as scheduled on 29 July 2022.
Bekaert has appointed Kepler Cheuvreux SA as independent intermediary to repurchase the shares on its behalf and to make trading decisions under the Second Tranche 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 Second Tranche of the 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 Second Tranche, will be announced in due course.