KBC Group NV announces start of share buyback program
10 August 2023 - 7:00PM
KBC Group NV announces start of share buyback program
Press release Outside trading hours – Regulated
informationBrussels, 10th August 2023 (7.00 p.m. CEST)
KBC Group NV announces start of share
buyback program
KBC Group NV is set to launch a share buyback program
for the purpose of distributing the surplus capital for which it
received the necessary authorization from the ECB. An agent has
been mandated to purchase own shares on behalf of KBC Group NV on
NYSE Euronext Brussels’ regulated market, from 11th August 2023
until 31st July 2024, for a maximum amount of 1,3 billion
euros.
The shares will be bought back under the conditions specified in
the authorization granted by the General Meeting of Shareholders of
5th May 2022. Under this authorization, the Board of Directors is
authorized to repurchase a maximum of 10% of KBC Group shares under
certain conditions, at a price that may not be lower than 1 euro or
higher than 110% of the last closing price on Euronext Brussels
prior to the date of acquisition.
The program may be paused at any time if deemed appropriate with
respect to the market conditions.
In accordance with the applicable regulations, KBC Group will
provide weekly updates on the progress of the share buyback program
via a press release and on the ‘Investor Relations’ section of the
KBC website: https://www.kbc.com/en/investor-relations.html
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