Aegon Initiates EUR 150 Million Share Buyback Program

Aegon Initiates significant Share Buyback Program

Aegon has embarked on a remarkable journey by launching a EUR 150 million share buyback program. This initiative plays a pivotal role in enhancing shareholder value and reflects the company’s solid financial standing and commitment to returning capital to its investors. The share buyback was publicly announced, signaling Aegon’s confidence in its future performance and strategic direction.

Details of the Share Buyback Program

The program will span a defined period, aiming for completion within a specified timeframe under normal circumstances. From the total amount, approximately EUR 40 million is earmarked to fulfill Aegon’s obligations arising from share-based compensation plans for senior management. The balance will be utilized for purchasing back an extensive number of shares, which Aegon intends to cancel, subject to shareholder approval.

Aegon and Vereniging Aegon Partnership

An essential aspect of this buyback program entails an agreement with Aegon’s largest shareholder, Vereniging Aegon. This entity will partake in the buyback, proportionate to its shareholding, accounting for around 18.4% of the voting rights. This participation leads to a significant buyback sum of EUR 20 million, thus underpinning the alliance between Aegon and its substantial stakeholder.

Execution by Third-party Specialists

Aegon has taken prudent steps by engaging a third party to oversee the execution of the buyback transactions. This move ensures that the shares will be repurchased at competitive rates, primarily determined by the daily volume-weighted average price on the Amsterdam stock exchange.

Compliance with EU Regulations

The entire buyback process will be carried out in strict accordance with the EU’s Market Abuse Regulation. Compliance with existing authority granted during the previous annual general meeting highlights Aegon’s commitment to upholding regulatory frameworks while executing corporate strategies. Shareholders can look forward to being kept informed through regular updates as the program unfolds.

Aegon’s Commitment to Sustainability and Growth

Aegon, headquartered in The Hague, the Netherlands, is more than just a financial services organization. It embodies a vision of building lasting partnerships and providing indispensable financial solutions to customers worldwide. The company operates in various markets, including the United States, the United Kingdom, and many more, indicating its vast operational reach and influence.

Investor Relations and Company Overview

The company prides itself on its committed approach towards forging strong investor relations, ensuring transparency, and fostering trust amongst its diverse investor base. Through initiatives like the buyback program, Aegon aims to resonate positively with its shareholders, fortifying a robust economic environment while addressing societal challenges, including sustainability and climate change.

Contacting Aegon

Investors or individuals interested in learning more about Aegon can reach out through dedicated media and investor relations teams:

Media Relations: Richard Mackillican
Phone: +31(0) 62 741 1546
Email: richard.mackillican@aegon.com

Investor Relations: Yves Cormier
Phone: +31(0) 70 344 8028
Email: yves.cormier@aegon.com

Frequently Asked Questions

What is the total amount of the share buyback program?

The total amount for the share buyback program is EUR 150 million.

How will Aegon use the funds from the share buyback?

Aegon plans to use approximately EUR 40 million to meet obligations from share-based compensation and the remainder for repurchasing shares to be canceled.

Who is participating in the share buyback?

Aegon’s largest shareholder, Vereniging Aegon, will participate proportionately in the buyback.

What measures are in place to ensure compliance during the buyback?

The buyback process will comply with the EU’s Market Abuse Regulation, adhering to the authority provided by shareholders.

How can I get more information about Aegon?

For further inquiries, investors can contact the media or investor relations team using the provided contact details.

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