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Bekaert: Share Buyback Program and Liquidity Agreement Update

Eli GrantFriday, Dec 13, 2024 2:23 am ET

3min read

Bekaert, a leading global manufacturer of steel cord and related products, has recently provided updates on its share buyback program and liquidity agreement. The company announced the start of the first tranche of its share buyback program on 22 November 2024, with a total maximum consideration of up to € 25 million. The purpose of the program is to cancel all shares repurchased, aiming to reduce the issued share capital of the company.

During the period from 28 November 2024 to 4 December 2024, Kepler Cheuvreux SA on behalf of Bekaert bought 93 569 shares as part of the share buyback program. The table below provides an overview of the transactions under the first tranche of the program during this period:

| Repurchase of shares |
| --- |
| Date | Market | Number of Shares | Average Price paid (€) | Highest Price paid (€) | Lowest Price paid (€) | Total Amount (€) |
| 28 November 2024 | Euronext Brussels | 9 870 | 33.09 | 33.50 | 32.78 | 326 598 |
| | MTF CBOE | 5 362 | 33.08 | 33.50 | 32.78 | 177 375 |
| | MTF Turquoise | 1 038 | 32.99 | 33.16 | 32.80 | 34 244 |
| | MTF Aquis | 882 | 33.04 | 33.40 | 32.78 | 29 141 |
| 29 November 2024 | Euronext Brussels | 10 325 | 32.71 | 33.00 | 32.52 | 337 731 |
| | MTF CBOE | 5 579 | 32.71 | 32.90 | 32.52 | 182 489 |
| | MTF Turquoise | 1 081 | 32.69 | 32.86 | 32.58 | 35 338 |
| | MTF Aquis | 914 | 32.71 | 32.84 | 32.60 | 29 897 |
| 2 December 2024 | Euronext Brussels | 10 566 | 32.69 | 32.88 | 32.54 | 345 403 |
| | MTF CBOE | 5 962 | 32.70 | 32.82 | 32.52 | 194 957 |
| | MTF Turquoise | 1 105 | 32.72 | 32.84 | 32.62 | 36 156 |
| | MTF Aquis | 768 | 32.68 | 32.82 | 32.50 | 25 098 |
| 3 December 2024 | Euronext Brussels | 12 529 | 32.89 | 33.00 | 32.74 | 412 079 |
| | MTF CBOE | 5 837 | 32.90 | 32.96 | 32.72 | 192 037 |
| | MTF Turquoise | 1 048 | 32.90 | 32.96 | 32.76 | 34 479 |
| | MTF Aquis | 861 | 32.88 | 32.96 | 32.78 | 28 310 |
| 4 December 2024 | Euronext Brussels | 11 589 | 33.34 | 33.56 | 33.02 | 386 377 |
| | MTF CBOE | 6 147 | 33.35 | 33.52 | 33.02 | 205 002 |
| | MTF Turquoise | 1 173 | 33.35 | 33.52 | 33.04 | 39 120 |
| | MTF Aquis | 933 | 33.39 | 33.52 | 33.02 | 31 153 |
| Total | | 93 569 | 32.94 | 33.56 | 32.50 | 2 901 548 |

In addition to the share buyback program, Bekaert has also provided updates on its liquidity agreement with Kepler Cheuvreux. During the period from 28 November 2024 to 4 December 2024, Kepler Cheuvreux on behalf of Bekaert bought 3 600 shares and sold 5 787 shares on Euronext Brussels. The tables below provide an overview of the transactions under the liquidity agreement during this period:

| Purchase of shares |
| --- |
| Date | Number of Shares | Average Price (€) | Highest Price (€) | Lowest Price (€) | Total Amount (€) |
| 28 November 2024 | 1 400 | 33.02 | 33.20 | 32.80 | 46 228 |
| 29 November 2024 | 1 000 | 32.62 | 32.70 | 32.54 | 32 620 |
| 2 December 2024 | 1 000 | 32.70 | 32.72 | 32.60 | 32 700 |
| 3 December 2024 | 0 0.00 | 0.00 | 0.00 | 0.00 | 0 |
| 4 December 2024 | 200 | 33.26 | 33.26 | 33.26 | 6 652 |
| Total | 3 600 | 118 200 |

| Sale of shares |
| --- |
| Date | Number of Shares | Average Price (€) | Highest Price (€) | Lowest Price (€) | Total Amount (€) |
| 28 November 2024 | 900 | 33.37 | 33.50 | 33.22 | 30 033 |
| 29 November 2024 | 1 200 | 32.80 | 33.00 | 32.70 | 39 360 |
| 2 December 2024 | 600 | 32.85 | 32.90 | 32.80 | 19 710 |
| 3 December 2024 | 987 | 32.94 | 33.00 | 32.80 | 32 512 |
| 4 December 2024 | 2 100 | 33.36 | 33.56 | 33.10 | 70 056 |
| Total | 5 787 | 191 671 |

The balance held by Bekaert under the liquidity agreement at the end of the period is 44 802 shares. On 4 December 2024 after closing of the market, Bekaert holds 2 017 986 own shares, or 3.72% of the total number of the outstanding shares.

Bekaert's share buyback program and liquidity agreement demonstrate the company's commitment to managing its shareholder base and maintaining market liquidity. The updates provided by the company reflect its proactive approach to addressing market conditions and regulatory factors, with the goal of maintaining a stable share price and engaging with shareholders.

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