Company Announcements

Bekaert to renew its existing liquidity contract

Source: OMX
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.

Attachment