Ageas Launches EUR 200 Million Share Buy-Back Programme
Ageas Announces a New Share Buy-Back Programme
Ageas’s Board of Directors has decided to initiate a new share buy-back programme for its outstanding common stock, allocating an amount of EUR 200 million. This initiative follows the shareholders’ authorisation that was granted earlier this year.
Details of the Buy-Back Programme
The buy-back programme is scheduled to run from mid-September until the end of July in the following year. This timeframe allows the company flexibility to conduct purchases while monitoring market conditions closely.
Execution of the Programme
The execution will adhere to industry best practices, ensuring compliance with relevant buy-back rules and regulations. To facilitate this process, Ageas will employ an independent broker to conduct purchases on the open market, specifically via Euronext Brussels.
Management of Treasury Shares
Shares that are bought back under this programme will be held as treasury shares. This strategy aligns with Ageas’s objectives of enhancing shareholder value and optimizing its capital structure.
Ongoing Communication with the Market
Ageas is committed to maintaining transparency about the progress of the share buy-back programme. The company will provide updates in accordance with applicable regulatory requirements, ensuring that stakeholders are well-informed throughout the process.
About Ageas
Ageas is a listed international insurance group with a remarkable heritage that spans over 200 years. The company is dedicated to providing both retail and business customers with life and non-life insurance products tailored to meet their specific needs. Ageas is also active in reinsurance activities, making it a well-rounded player in the insurance sector.
Global Presence and Operations
With a strong presence in Europe and Asia, Ageas engages in various strategic markets, contributing significantly to the global insurance landscape. The company operates successful businesses across several countries, including Belgium, the UK, and Portugal, among others. By leveraging wholly owned subsidiaries and long-term partnerships with reputable financial institutions and distributors, Ageas has established itself as a market leader in these regions.
Workforce and Financial Performance
Employing approximately 50,000 staff members, Ageas reported impressive annual inflows of EUR 17.1 billion in the previous financial year. This robust financial performance highlights Ageas's capacity to serve a diverse customer base effectively while navigating a complex and evolving market.
Frequently Asked Questions
What is the amount allocated for the new share buy-back programme?
The new share buy-back programme has an allocation of EUR 200 million.
How long will the share buy-back programme run?
The buy-back programme is set to run from mid-September until the end of July the following year.
How will Ageas execute the share buy-back programme?
Ageas will employ an independent broker to conduct the purchases on the open market via Euronext Brussels.
What will happen to the bought back shares?
The shares bought back will be held as treasury shares.
What is Ageas's market presence?
Ageas operates in Europe and Asia, providing life and non-life insurance products, and ranks among the market leaders in the countries where it operates.
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