Bekaert Reports on Share Buyback Completion and Future Plans
Update on Bekaert’s Share Buyback Program
Bekaert recently announced significant progress in its share buyback initiative. The company has successfully completed the first tranche of its €200 million share buyback program. In this initial phase, which commenced in late November, Bekaert repurchased 750,093 ordinary shares, amounting to a total expenditure of €25 million.
Following this, Bekaert's agent, Kepler Cheuvreux SA, executed additional purchases. Notably, during the brief window from February 20 to February 21, the firm acquired 15,024 shares. Below is a detailed recap of these transactions.
Transaction Overview: Share Buyback
The completed share buyback program provided Bekaert with the opportunity to enhance the value of its stock, benefiting current shareholders. Here follows a summary of the purchasing activities during the specified dates:
Acquisition Summary:
Date: February 20, 2025
Market: Euronext Brussels
Shares Purchased: 6,000
Average Price: €34.49
Highest Price: €34.72
Lowest Price: €34.18
Total Expenditure: €206,940
Further Transactions:
On February 21, further purchases were made, with a total of 5,024 shares acquired at an average price similar to the prior day. This consistent strategy reflects Bekaert's commitment to maximizing shareholder value.
Next Phase of the Share Buyback Program
Looking ahead, Bekaert is poised to initiate the next tranche of its buyback program, committing up to an additional €25 million. This decision is subject to market conditions, and the company aims to complete this tranche ahead of its first-quarter financial update.
Bekaert will continue to keep the public informed about its buyback activities, with updates to be provided through press releases as part of its transparency practices. These updates will be accessible on Bekaert’s investor relations page, ensuring all stakeholders remain informed.
Details on the Liquidity Agreement
In conjunction with the share buyback initiative, Bekaert recently shared insights into its liquidity agreement with Kepler Cheuvreux. During the period of February 20 to February 26, 2025, a total of 7,601 shares were purchased under this agreement, consolidating Bekaert's presence in the market.
Liquidity Agreement Transaction Summary
Below is a breakdown related to the purchases recorded under the liquidity agreement:
Date: February 20, 2025
Shares Bought: 2,401
Average Price: €34.41
Total Amount: €82,618
These transactions reflect ongoing efforts to maintain stock stability and investor confidence.
Current Holdings and Strategic Outlook
As of February 26, 2025, post completion of the recent activities in both share buyback and liquidity measures, Bekaert holds a total of 2,595,695 shares, which represents 4.78% of the total outstanding shares. This significant holding underscores the company’s strategic commitment to enhancing its market position.
With a focus on maximizing shareholder wealth and ensuring liquidity, Bekaert remains dedicated to transparent communication regarding its financial maneuvers. Stakeholders will find ongoing updates on all related activities in the investor relations section of Bekaert’s website.
Frequently Asked Questions
What is the current status of Bekaert's share buyback program?
Bekaert has completed the first tranche of its €200 million share buyback program, repurchasing over 750,000 shares.
How much has Bekaert allocated for the next tranche of its buyback?
The next tranche of Bekaert's buyback program is set at €25 million.
What dates were significant for Bekaert's share purchases?
Significant purchase transactions occurred on February 20 and February 21, 2025.
How many shares does Bekaert currently hold under the liquidity agreement?
Under the liquidity agreement, Bekaert held 40,102 shares at the end of the specified period.
What percentage of shares does Bekaert currently own after recent buybacks?
Bekaert owns 4.78% of the total outstanding shares post buyback activities.
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