a.s.r. to commence €100 million share buyback programme
ASR Nederland N.V. (a.s.r.) announces the initiation of a share buyback programme for an amount of € 100 million, following the successful completion of the sale of Knab to BAWAG, as announced on 1 November.
The repurchase period will start on 7 November 2024 and end on 31 December 2024 at the latest. The share buyback falls within the authorisation of the General Meeting of Shareholders of a.s.r., granted to the Executive Board on 29 May 2024. a.s.r. will seek approval from the General Meeting of Shareholders on 21 May 2025 to cancel the repurchased shares.
a.s.r. has appointed an independent broker to execute the repurchases. The exact timing of the repurchases will be determined by this broker independently and without interference from a.s.r. Based on the closing price of € 45.08 on 6 November 2024 and the amount of € 100 million, the number of shares to be repurchased would be 2,218,278. The execution of the repurchase depends on market conditions.
In accordance with the agreements, Aegon Ltd will keep its position below 30% of the issued and outstanding share capital.
The progress of the repurchases will be published weekly on the a.s.r. website.
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