• Bekaert - Completion of the Share Buyback Program and Update on the Liquidity Agreement

    Source: Nasdaq GlobeNewswire / 17 Feb 2023 01:15:00   America/Chicago

           

    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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