Regulated information - Ageas announces new share buy-back programme
(Thomson Reuters ONE) -
Ageas announces the decision of the Board of Directors to initiate a new share
buy-back programme[1] of its outstanding common stock for an amount of EUR 200
million[2]. This follows the shareholders' authorisation granted in May 2017.
The share buy-back programme will start on 21 August 2017 and will run up to 3
August 2018.
This programme will be implemented in accordance with industry best practices
and in compliance with the applicable buy-back rules and regulations. To this
end, Ageas will mandate an independent broker to execute the programme through
open market purchases on its behalf on the NYSE Euronext Brussels.
The bought back shares will be held as treasury shares. Ageas will propose to
its shareholders cancellation of all bought back shares, excluding the shares
needed to cover share-plans granted to senior management. The share buy-back
will not affect the solvency position of the insurance operations.
Ageas will keep the market fully informed of the progress of the transaction in
line with applicable regulations.
Ageas is a listed international insurance Group with a heritage spanning 190
years. It offers Retail and Business customers Life and Non-Life insurance
products designed to suit their specific needs, today and tomorrow. As one of
Europe's larger insurance companies, Ageas concentrates its activities in Europe
and Asia, which together make up the major part of the global insurance market.
It operates successful insurance businesses in Belgium, the UK, Luxembourg,
France, Italy, Portugal, Turkey, China, Malaysia, India, Thailand, Vietnam,
Laos, Cambodia, Singapore, and the Philippines through a combination of wholly
owned subsidiaries and long term partnerships with strong financial institutions
and key distributors. Ageas ranks among the market leaders in the countries in
which it operates. It represents a staff force of over 40,000 people and
reported annual inflows close to EUR 32 billion in 2016 (all figures at 100%).
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[1] Ageas has informed the National Bank that this operation can be considered
as non-strategic, according to article 36/3 §2 of the law of 22 February 1998
determining the statute of the National Bank of Belgium.
[2] Currently, Ageas owns approximately 4.02% of its own shares. The maximum
buy-back of 10% of issued share capital authorized by the shareholders will not
be exceeded.
Pdf version press release:
http://hugin.info/134212/R/2126216/811714.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Ageas via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 09.08.2017 - 07:20 Uhr
Sprache: Deutsch
News-ID 555759
Anzahl Zeichen: 3299
contact information:
Town:
Brussels
Kategorie:
Business News
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"Regulated information - Ageas announces new share buy-back programme"
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