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Wednesday, 9 August 2017

Regulated information - Ageas announces new share buy-back programme

Ageas    

Published: 07:20 CEST 09-08-2017 /GlobeNewswire /Source: Ageas / : AGS /ISIN: BE0974264930

Regulated information - Ageas announces new share buy-back programme

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%).

 

 

 



[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



This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of NASDAQ OMX Corporate Solutions clients. Source: Ageas, Rue du Marquis - Markiesstraat 1, Brussels 1000, Belgium
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