European Commission decision on KBC group strat...
Regulated information* - 18 November 2009 (07.30 a.m. CET)
Today, the European Commission is expected to decide on the strategic
plan which KBC group submitted at the end of September.
The plan is an analysis of KBC group's business and its future
strategy, and served as a basis for the Commission to assess KBC's
capacity to redeem the government securities within a reasonable
timeframe. This is common practice for European financial
institutions that have been bailed out in the past year.
Pending the decision and the communication from the European
Commission, KBC Group NV has requested to have its share suspended.
The Commission is expected to communicate around noon. At the same
time, KBC will issue a press release, which will be published on
www.kbc.com, and provide the financial markets with more detailed
information about the strategic plan. Trading will resume some time
after the publication of the press release (+ 2.00 p.m.).
A press conference (live webcast on www.kbc.com, or click here) will
be hosted by KBC Group CEO, Jan Vanhevel, and CFO, Luc Philips,
starting at 12.15 p.m. CEST in KBC's headquarters at 2 Havenlaan,
1080 Brussels.
As of 2.15 p.m CEST., a CFO conference call (in English) has been
scheduled for analysts. Dial-in numbers are +32 (0)2 290 14 07 (B),
+44 (0)20 7162 0077 (UK) or +1 334 323 6201 (US).
Tomorrow, 19 November, an Investor Day has been organised in London,
replacing the Investor Day previously scheduled on 4 December (more
details on www.kbc.com).
* This news item contains information that is subject to the
transparency regulations for listed companies.
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
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