Outcome of the optional dividend for the 2013/2014 financial year: 51% of the coupons are distributed in the form of new ordinary shares, resulting in a capital increase of EUR 23.2 million.
Gimv today announced that 51.1% of the no. 21 coupons had been presented in return for 701,892 new ordinary shares, for a total amount of EUR 23.2 million.
Gimv's AGM on 25 June 2014 approved the distribution of a gross dividend of EUR 2.45 per share (EUR 1.8375 net) for the 2013/2014 financial year. In addition, Gimv offered shareholders the option of subscribing to new ordinary shares, each share being exchanged for 18 no. 21 coupons (EUR 33.075), or taking a cash dividend or a combination of both. The new shares will be of the same type as the existing shares (with no right to a reduced withholding tax) and give entitlement to payment of a dividend from Gimv's profits as from 1 April 2014. Gimv shareholders were asked to communicate their choice between 2 and 25 July 2014.
In total, 12,634,056 no. 21 coupons were presented in exchange for 701,892 new ordinary shares, for a total amount of EUR 23.2 million. Slightly more that 50% of the shareholders in free float opted for payment in shares, VPM for exactly 50% of its participation, which is in line with previous years. These new shares will be issued on 1 August 2014 and will be admitted to listing on Euronext Brussels on the same date. The balance of the dividend will also be distributed on 1 August 2014 in cash, amounting to a gross total of EUR 37.4 million.
As a result of this capital increase, Gimv’s equity (group's share) will amount to EUR 984.6 million and will be represented by 25,426,672 ordinary shares. Each of these shares carries one voting right at the general shareholders meetings and the total number of shares indicated above will then represent the denominator for purposes of notifications under the transparency regulations. VPM, Gimv’s reference shareholder, opted for payment in shares on half of its shareholding and now holds 6,818,407 shares, equating to 26.82% of the capital. Consequently, Gimv's free float currently amounts to 73.18%.
This capital increase adds EUR 23.2 million to Gimv’s equity, in contrast to the situation that would have prevailed had the dividend entirely been paid in cash. The cash which was not paid out will be used by Gimv to finance growth and further expand its portfolio.