KBC has successfully sold its treasury shares a...

Regulated information* - 16 October 2012 (10.45 a.m. CEST)

 

KBC's strategic plan that was approved by the European Commission in November 2009 included the sale, within an agreed timeframe, of treasury shares held by KBC on its balance sheet (5,1% of a total share count of 358 million shares).In line with this commitment,KBC Group and KBC Bank announce the successful completion of the private placement of 18.2 million own shares, so-called treasury shares. The gross proceeds from the transaction amount to EUR 350 million.

Johan Thijs, CEO KBC Group commented today's announced transaction as follows : "KBC's strategic plan, approved by the European Commission in November 2009, included amongst others the sale, within an agreed timeframe, of treasury shares currently held by KBC on its balance sheet. Today, with the sale of the treasury shares, KBC has passed another important step in the realization of the strategic plan agreed with the European Commission. Based on the offer price (EUR 19.25 per share), this sale released EUR 385 million in capital for KBC and further enhances KBC's capital position. As announced previously, it remains our ambition to pay back a substantial part of state aid to the Federal government before the end of this year, once the common equity target under Basel III has been decided by the National Bank of Belgium."

At the end of the second quarter of 2012, KBC's tier-1 capital ratio stood at 13.6% and when all the agreements that have been signed, but not yet closed, are included, the tier-1 ratio amounts to 15.4% on a pro forma basis. The sale of the treasury shares has added approximately 0.3% to KBC's solvency levels. The estimated common equity ratio under Basel III at the end of 2013 is expected to stand at 9.5% (fully loaded). This sale does not have any impact on the Profit and Loss account of KBC Group.

For further information please contact:       
Wim Allegaert, General Manager, Investor Relations, KBC Group
Tel [phone] E-mail [e-mail]
Viviane Huybrecht, General Manager, Group Communications/Spokesperson, KBC Group
Tel [phone] E-mail [e-mail]
NYSE Euronext Brussels Ticker Symbol: KBC

DISCLAIMER

This announcement is for information purposes only and does not constitute an offer to sell or a solicitation to buy any securities, and the offer of KBC Group shares by KBC Group and KBC Bank does not constitute a public offering in any jurisdiction, including in Belgium.

This communication is for distribution in member states of the European Economic Area only to persons falling within the meaning of Article 2(1)(e) of the 2003/71/CE directive as amended by Directive 2010/73/EU and in the United Kingdom only to investment professionals falling within article 19 (5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"), persons  falling within article 49 (2), (a) to (d) of the Order (high net worth companies, unincorporated associations, etc) and other persons to whom it may lawfully be communicated (all such persons together being referred to as "relevant persons"). The information regarding the transaction set out in this announcement must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this announcement relates is available only to relevant persons and will be engaged in only with relevant persons.

This document may not be distributed, directly or indirectly, in or into Australia, Canada, Japan, South Africa or any other jurisdiction where to do so would be a breach of laws.
 The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933 (the "Securities Act") and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act. There will be no public offering of the securities in the United States in connection with this transaction.
This document includes statements that are, or may be deemed to be, forward-looking statements. Any forward-looking statements are subject to risks relating to future events and assumptions relating to KBC's business. No assurances can be given that the forward-looking statements in this document will be realized. As a result, no undue reliance should be placed on these forward-looking statements as a prediction of actual results or otherwise.

* This news item contains information that is subject to the transparency regulations for listed companies.

 

 

KBC_TS_completion results_ENG( final doc)

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Source: KBC Groep via Thomson Reuters ONE

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