- 76,46% of the shareholders opt for conversion of dividend rights in shares
- Reinforcement of equity with app. EUR 6,4 Mio
The general meeting of Immobel SA (the Company or Immobel) has decided on April 18, 2024 to pay a gross dividend of EUR 1.20 per share for the 2023 financial year.
The board of directors of the Company, within the framework of the authorised capital, subsequently decided on April 19, 2024 to offer the shareholders of the Company the opportunity to offset their dividend claim, taking into account a deduction of 30% withholding tax (regardless of the actual application of an exemption or reduction), by way of an optional dividend attached to existing shares (being coupons no. 34) (the Dividend Rights) in order to contribute to the capital of the Company (the Optional Dividend).
A shareholder of the Company had a choice under the Optional Dividend between (i) the contribution of its Dividend Rights to the capital of the Company in exchange for new shares (the New Shares), (ii) a cash payment of the dividend, or (iii) a combination of the two preceding options. The issue price per New Share was set at EUR 25.20.
Shareholders were invited to communicate their choice between the different payment modalities between April 23, 2024 and May 2, 2024.
Result of the optional dividend
The shareholders opted to contribute a total of 76,46% of the Dividend Rights to the capital in exchange for New Shares. This will, after the realisation of the capital increase, result in an increase in the equity (capital and share premium) of Immobel of EUR 6,421,136.40 by issuing 254,807 New Shares.
The effective settlement of the Optional Dividend will take place from May 7, 2024 in which, depending on the shareholders' choice, (i) the New Shares issued in exchange for the contribution of Dividend Rights will be delivered, (ii) the payment of the dividend in cash will take place, or (iii) a combination of both of the foregoing payment modalities will take place.
The New Shares will be entitled to Immobel's results as of January 1, 2024.
Disclosure pursuant to article 15 of the law of May 2, 2007
Upon completion of this capital increase and the issuance of 254,807 New Shares at a total issue price of EUR 6,421,136.40 (more precisely, EUR 2,481,820.18 capital and EUR 3,939,316.22 share premium), Immobel's capital will total EUR 99,838,354.04 as of May 7, 2024.
The capital will be represented as of the same date by 10,252,163 fully paid ordinary shares. These shares represent the denominator in transparency notifications.
Immobel wishes to thank its shareholders for this successful operation and for their continued confidence in the Company.