Outcome of the optional dividend for the financial year 2021/2022: 53.3% of the dividend rights on the financial year 2021/2022 are distributed in the form of new ordinary shares, resulting in a capital increase of EUR 25.9 million

27/07/2022 - 17:45 | Financial

Gimv today announced that 53.3% of the dividend rights on the financial year 2021/2022 had been presented in return for 568 189 new ordinary shares, for a total amount of EUR 25.9 million.

Gimv's AGM on 29 June 2022 approved the distribution of a gross dividend of EUR 2.60 per share (EUR 1.82 net) for the financial year 2021/2022. In addition, Gimv offered shareholders the option of subscribing to new ordinary shares, each share being exchanged for 25 dividend rights on the financial year 2021/2022 (EUR 45.50), 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 2022. Gimv shareholders were asked to communicate their choice between 6 and 26 July 2022.

14 204 725 dividend rights on the financial year 2021/2022 were presented in exchange for 568 819 new ordinary shares, for a total amount of EUR 25.9 million. 50% of the shareholders in free float opted for payment in shares, VPM for 63% of its participation. These new shares will be issued on 29 July 2022 and will be admitted to listing on Euronext Brussels on the same date. The balance of the dividend will be distributed on 28 July 2022 in cash, amounting to a gross total of EUR 43.4 million.

As a result of this capital increase, Gimv’s equity (group's share) will amount to EUR 1 369.6 million[1] and will be represented by 27 222 697 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 63% of its shareholding and now holds 7 527 940 shares, equating to 27.65% of the capital. Consequently, Gimv's free float amounts to 72.35%.

This capital increase adds EUR 25.9 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 2021/2022 financial year                                                           28 July 2022
  • Listing new shares on Euronext Brussels                                                                             29 July 2022
  • Results 1H 2022/2023 (1 April 2022 -30 September 2022)                                          17 November 2022


[1] Most recently published equity value (group’s share) as at 31 March 2022, excluding the dividend on the financial year 2021/2022 and increased with the amount of the capital increase.

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