Bekaert to renew its existing liquidity contract
02 September 2022 - 7:45AM
Bekaert to renew its existing liquidity contract
Bekaert announces that it has decided to renew
for one year, effective as of today, the liquidity contract it
entered into with Kepler Cheuvreux on 2 September 2021 relating to
its ordinary shares admitted to trading on Euronext Brussels (ISIN
Code BE0974258874). This contract 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 € 31.739 per
share).
The program is renewed for a one-year renewable
period. Bekaert has the right under the liquidity contract to
terminate the liquidity contract upon reasonably short prior
notice.
To implement the program, Bekaert made available
100 000 treasury shares to Kepler Cheuvreux. No further
contribution to Kepler Cheuvreux’ liquidity account has been
provided following the renewal of the liquidity contract.
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.
- p220902E - Liquidity contract
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