Outcome of the optional dividend for the financial year 2020/2021: 63% of the dividend rights on the financial year 2020/2021 are distributed in the form of new ordinary shares, resulting in a capital increase of EUR 28.7 million
Gimv today announced that 63% of the dividend rights on the financial year 2020/2021 had been presented in return for 607 374 new ordinary shares, for a total amount of EUR 28.7 million.
Gimv's AGM on 30 June 2021 approved the distribution of a gross dividend of EUR 2.50 per share (EUR 1.75 net) for the financial year 2020/2021. In addition, Gimv offered shareholders the option of subscribing to new ordinary shares, each share being exchanged for 27 dividend rights on the financial year 2020/21 (EUR 47.25), or of 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 2021. Gimv shareholders were asked to communicate their choice between 7 and 27 July 2021.
16 399 098 dividend rights on the financial year 2020/2021 were presented in exchange for 607 374 new ordinary shares, for a total amount of EUR 28.7 million. 49% of the shareholders in free float opted for payment in shares, VPM for 100% of its participation. These new shares will be issued on 30 July 2021 and will be admitted to listing on Euronext Brussels on the same date. The balance of the dividend will also be distributed on 30 July 2021 in cash, amounting to a gross total of EUR 36.4 million.
As a result of this capital increase, Gimv’s equity (group's share) will amount to EUR 1 303.0 million (1) and will be represented by 26 654 508 ordinary shares. Each of these shares carries one voting right at the general shareholders meetings and the total number of shares indicated above will represent the denominator for purposes of notifications under the transparency regulations. VPM, Gimv’s reference shareholder, opted for payment in shares on 100% of its shareholding and now holds 7 342 899 shares, equating to 27.55% of the capital. Consequently, Gimv's free float amounts to 72.45%.
This capital increase adds EUR 28.7 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 is not paid out will be used by Gimv to finance growth and further expand its portfolio.
Key financial dates
- Payment date dividend for 2020/2021 financial year and listing new shares on Euronext Brussels - 30 July 2021
- Results 1H 2021/2022 (1 April 2021 -30 September 2021) - 18 November 2021
(1) Most recently published equity value (group’s share) as at 31 March 2021, increased with the amount of the capital increase.