Bekaert announces that it has decided to extend by one year the liquidity agreement entered into on 2 September 2021 with Kepler Cheuvreux in relation to its ordinary shares (ISIN code BE0974258874) admitted to trading on Euronext Brussels. This agreement provides for the purchase and sale of Bekaert shares by Kepler Cheuvreux on the regulated market of Euronext Brussels.
Kepler Cheuvreux will act on behalf of Bekaert and under a discretionary mandate as approved by Bekaert’s Extraordinary General Meeting of May 13, 2020.
Under the terms set by this Extraordinary General Meeting, (i) the total number of treasury shares held by Bekaert pursuant to this authorization may never exceed twenty percent of the total number of outstanding Bekaert shares, and (ii) the purchases of the shares must be made at a price between one euro and thirty percent above the arithmetic mean of the closing price of the Bekaert share during the last thirty trading days before the decision of the Board of Directors to implement the authorization of the Extraordinary General Meeting (the average closing price was €31.739 per share).
The program will be extended for another year. Under the Liquidity Agreement, Bekaert has the right to terminate the Liquidity Agreement at reasonable short notice.
To implement the program, Bekaert Kepler provided Cheuvreux with 100,000 of its own shares. After the renewal of the liquidity contract, no further contribution was made to Kepler Cheuvreux’s liquidity account.
The purpose of the liquidity contract is to support the liquidity of the Bekaert shares on Euronext Brussels.
The transactions are reported weekly via press releases on the Bekaert website: https://www.bekaert.com/en/about-us/news-room/regulated-information.
Continue to read on GlobeNewswire https://www.globenewswire.com/news-release/2022/09/02/2509041/0/en/Bekaert-to-renew-its-existing-liquidity-contract.html
