Belgium: AvH Announces Redemption of Shares
- Business & Finance
The extraordinary shareholders’ meeting of Ackermans & van Haaren NV has on 25 November 2011 renewed the powers delegated to the board of directors to redeem shares for a period of 5 years.
In the framework of these powers, Ackermans & van Haaren has concluded a liquidity contract with Kepler Cheuvreux to improve the liquidity of the AvH-share. In the framework of this liquidity programme, Kepler Cheuvreux has in the period from 26 until 31 August 2013 acquired a total of 3,891 shares on NYSE Euronext Brussels.
Ackermans & van Haaren currently holds 368,238 own shares, i.e. 1.10% of the total shares outstanding.
Ackermans & van Haaren is a diversified group active in 5 key segments: Infrastructure & Marine Engineering (DEME, one of the largest dredging companies in the world – Algemene Aannemingen Van Laere, a leading contractor in Belgium), Private Banking (Delen Private Bank, one of the largest independent private asset managers in Belgium, and asset manager JM Finn in the UK – Bank J. Van Breda & C°, niche bank for entrepreneurs and liberal professions in Belgium), Real Estate, Leisure & Senior Care (Leasinvest Real Estate, a listed real-estate investment trust – Extensa, an important land and real estate developer focused on Belgium, Luxembourg and Central Europe), Energy & Resources (Sipef, an agro-industrial group in tropical agriculture) and Development Capital (Sofinim and GIB). In 2012, through its share in its participations, the AvH group represented a turnover of 3.3 billion euro and employed approximately 18.750 people.
The group concentrates on a limited number of strategic participations with significant potential for growth. AvH is quoted on the BEL20 index, the Private Equity NXT index of Euronext Brussels and the European DJ Stoxx 600.
Press Release, September 2, 2013