Press release
Outside trading hours - Regulated information
Brussels, 10th August 2023 (7.00 p.m. CEST)
KBC Group NV announces start of share buyback program
KBC Group NV is set to launch a share buyback program for the purpose of distributing the surplus capital for which it received the necessary authorization from the ECB. An agent has been mandated to purchase own shares on behalf of KBC Group NV on NYSE Euronext Brussels' regulated market, from 11th August 2023 until 31st July 2024, for a maximum amount of 1,3 billion euros.
The shares will be bought back under the conditions specified in the authorization granted by the General Meeting of Shareholders of 5th May 2022. Under this authorization, the Board of Directors is authorized to repurchase a maximum of 10% of KBC Group shares under certain conditions, at a price that may not be lower than 1 euro or higher than 110% of the last closing price on Euronext Brussels prior to the date of acquisition.
The program may be paused at any time if deemed appropriate with respect to the market conditions.
In accordance with the applicable regulations, KBC Group will provide weekly updates on the progress of the share buyback program via a press release and on the 'Investor Relations' section of the KBC website: https://www.kbc.com/en/investor-relations.html
Attachment
- 20230810-pb-buyback-en (https://ml-eu.globenewswire.com/Resource/Download/d0c4c4ce-55ec-4fae-81e1-3b8ec0a777f9)
