Yahoo Finance Bekaert to implement liquidity agreement with Kepler Cheuvreux
Bekaert to implement liquidity agreement with Kepler Cheuvreux
Bekaert announces that it has entered today into a liquidity agreement with Kepler Cheuvreux in relation to its ordinary shares admitted to trading on Euronext Brussels (ISIN Code BE0974258874). This liquidity agreement provides for the purchase and sale of Bekaert shares by Kepler Cheuvreux on the regulated market of Euronext Brussels and with the purpose of supporting the liquidity of the Bekaert shares.
Kepler Cheuvreux will be acting on behalf of Bekaert and on a discretionary basis, as authorized by the Extraordinary General Meeting of Bekaert of 13 May 2020. The liquidity program will start on 1 July 2024 for a 12-month renewable period. To execute the liquidity agreement, Bekaert is making € 3.5 million available to Kepler Cheuvreux.
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 € 60.14 per share).
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.
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