Vereniging Aegon to participate in current share buyback program
Aegon has entered into an agreement with its largest shareholder, Vereniging Aegon, to partially participate in Aegon’s current EUR 1.5 billion share buyback program. The repurchase of shares from Vereniging Aegon will commence as soon as Aegon has repurchased shares for an amount of EUR 750 million under the buyback program and is expected to run until the end of the share buyback program. Barring unforeseen circumstances, the share buyback is expected to be completed on or before June 30, 2024. As of December 7, Aegon has repurchased 149.8 million shares representing EUR 703.9 million.
Aegon began its EUR 1.5 billion share buyback program on July 6, 2023 following the completion of the transaction to combine Aegon’s Dutch pension, life and non-life insurance, banking, and mortgage origination activities with a.s.r., that was announced on July 4, 2023.
Vereniging Aegon will participate pro-rata in the share buyback program based on its combined common shares and common shares B voting rights currently exercisable of 18.6%, resulting in a buyback amount of EUR 139.5 million. The number of shares that Aegon will repurchase from Vereniging Aegon will be determined based on the daily volume-weighted average price per common share on Euronext Amsterdam.