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Results of the option to receive the final 2016 dividend in shares

Paris, June 20, 2017 - The Annual Shareholders’ Meeting held on May 26, 2017 approved the payment of an annual dividend for 2016 of €2.45 per share and offered the shareholders the choice to receive the final 2016 dividend of €0.62 per share in cash or in new shares of the Company. 

Results of the option to receive the final 2016 dividend in shares Results of the option to receive the final 2016 dividend in shares

 

 

Paris, June 20, 2017 - The Annual Shareholders’ Meeting held on May 26, 2017 approved the payment of an annual dividend for 2016 of €2.45 per share and offered the shareholders the choice to receive the final 2016 dividend of €0.62 per share in cash or in new shares of the Company. 

 
The period for exercising the option ran from June 5, 2017 to June 14, 2017.

At the end of the option period, 52% of rights were exercised in favor of receiving the payment for the final 2016 dividend in shares.   
 
17,801,936 new shares will be issued, representing 0.7% of the Company’s share capital on the basis of the share capital of May 31, 2017.

The share price for the new shares to be issued as payment of the final 2016 dividend was set at €44.86 on May 26, 2017.

The price is equal to the average opening price on Euronext Paris for the twenty trading days preceding May 26, 2017, the date of the Annual Shareholders’ Meeting, reduced by the amount of the final dividend, with a 5% discount. 
 
The settlement and delivery of the new shares as well as their admission to trading on Euronext Paris will occur on June 22, 2017.

The shares will carry immediate dividend rights and will be fully assimilated with existing shares already listed. 
 
The remaining cash dividend to be paid to shareholders who did not elect to receive the final 2016 dividend in shares amounts to 731 million euros and the date for the payment in cash is set for June 22, 2017.

Source : Neftegaz.RU