With reference to Article 7:215 § 1 of the Companies and Associations Code and Article 8:4 of the Royal Decree of April 29, 2019, implementing the Companies and Associations Code, Tessenderlo Group launched a share repurchase program in early April 2023 for an amount not exceeding 40 million EUR. As the share price is currently quoted below its book value, as well as taking into account the liquidity position of the group, the Board of Directors of Tessenderlo Group is of the opinion that it is opportune to proceed with the repurchase of its own shares.
Between October 30 and November 3, 2023, Tessenderlo Group acquired 61,571 of its own shares at an average price of 27.48 EUR per share, for a total amount of 1,691,817.07 EUR. The transaction took place on the Euronext Brussels regulated market. Tessenderlo Group's Board of Directors executed the purchase as authorized by the Extraordinary General Meeting of Shareholders on May 10, 2022. As a result of this transaction, the company holds 811,303 of its own shares in total, or 0.95% of the total number of issued shares as of November 6, 2023. In addition, the company, through its subsidiary Picanol nv, still holds 21,860,003 of its own shares, or 25.58% of the total number of issued shares (being 85,472,762 shares).
Overview of purchases, by day:
Number of
Average share price
Minimum share price
Maximum share
Total cost
Date
shares
price
(in EUR)
(in EUR)
(in EUR)
repurchased
(in EUR)
October 30, 2023
5,000
27.14
26.80
27.40
135,704.50
October 31, 2023
39,972
27.28
26.90
27.50
1,090,548.10
November 1, 2023
3,500
27.47
27.30
27.60
96,147.45
November 2, 2023
10,599
28.10
27.70
28.40
297,827.77
November 3, 2023
2,500
28.64
28.40
28.75
71,589.25
TOTAL
61,571
27.48
26.80
28.75
1,691,817.07
An overview of the share repurchases is provided on our website (www.tessenderlo.com)at https://www.tessenderlo.com/en/investor-relations/information-shareholders/repurchase-shares.
1 The information presented includes regulated information as defined in the Royal Decree of November 14, 2007, on the obligations of issuers of financial instruments admitted to trading on a regulated market.
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About Tessenderlo Group
Tessenderlo Group is an industrial group that focuses on agriculture, valorizing bio-residuals, machinery, mechanical engineering, electronics, energy, and providing industrial solutions with a focus on water. With its headquarters in Belgium, the group is active in over 100 countries and it has a global team of more than 7,000 employees. Its belief that "Every Molecule Counts" is at the heart of the strategy of the group: Tessenderlo Group continually strives to valorize its products and processes to the maximum and to add value to everything it does. In 2022, Tessenderlo Group recorded a consolidated revenue of 2.6 billion EUR, or a pro forma revenue (including Picanol Group) of 3.3 billion EUR. Tessenderlo Group is listed on Euronext Brussels and is part of the Next 150 and BEL Mid indices. Financial News wires: Bloomberg: TESB BB - Reuters: TESB.BR - Datastream: B:Tes. For more information about Tessenderlo Group, its people, its brands, and its results, please visit www.tessenderlo.com.
Media relations
Investor Relations
Frederic Dryhoel
Kurt Dejonckheere
+32 2 639 19 85
+32 2 639 18 41
frederic.dryhoel@tessenderlo.com
kurt.dejonckheere@tessenderlo.com
This press release is available in Dutch and English on the website www.tessenderlo.com.
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Tessenderlo Group NV published this content on 06 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 November 2023 08:24:06 UTC.
Tessenderlo Group nv is a diversified industrial group. Net sales break down by activity as follows:
- sale of agrochemicals (37.7%): crop nutrients (liquid sulfur fertilizers, solid and soluble potassium sulfate fertilizers, etc.) and crop protection products;
- sale of animal by-products (30.9%): animal fats and proteins, gelatins, collagen peptides, etc.;
- sale of industrial products (28.3%): plastic pipe systems, PVC profiles, performance chemicals (ferric chloride, caustic soda, sodium hypochlorite, hydrochloric acid, sodium sulphide, hydrogen sulphide, calcium chloride, etc.), electrolysis products, specialty chemicals, etc. for the water treatment and transportation, construction, mining, food processing, oil and gas industries, etc.;
- power generation (3.1%).
Net sales are distributed geographically as follows: Belgium (9.1%), France (16.5%), the Netherlands (10.2%), the United Kingdom (4.9%), Spain (3.5%), Germany (3%), Poland (1.5%), Europe (6%), the United States (28.8%), Mexico (3.2%), China (0.7%) and other (12.6%).
TESSENDERLO GROUP NV 
