Outcome of the optional dividend for the FY 2022-2023: 50.8% of the dividend rights on the FY 2022-2023 are distributed in the form of new ordinary shares, resulting in a capital increase of EUR 25.2 million
Gimv today announces that 50.8% of the dividend rights on the financial year 2022-2023 had been presented in return for 658,576 new ordinary shares, for a total amount of EUR 25.2 million.
Gimv's AGM on 28 June 2023 approved the distribution of a gross dividend of EUR 2.60 per share (EUR 1.82 net) for the financial year 2022-2023. In addition, Gimv offered shareholders the option of subscribing to new ordinary shares, each share being exchanged for 21 dividend rights on the financial year 2022-2023 (EUR 38.22), 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 2023. Gimv shareholders were asked to communicate their choice between 5 and 25 July 2023.
13,830,096 dividend rights on the financial year 2022-2023 were presented in exchange for 658,576 new ordinary shares, for a total amount of EUR 25.2 million. These new shares will be issued on 28 July 2023 and will be admitted to listing on Euronext Brussels on the same date. The balance of the dividend will be distributed on 28 July 2023 in cash, amounting to a gross total of EUR 45.6 million.
As a result of this capital increase, Gimv’s equity (group's share) will amount to EUR 1,266.8 million* and will be represented by 27,881,273 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 7,753,778 shares, equating to 27.81% of the capital. Consequently, Gimv's free float amounts to 72.19%.
This capital increase adds EUR 25.2 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 is not paid out will be used by Gimv to finance growth and further value creation in the portfolio.
* Most recently published equity value (group’s share) as at 31 March 2023, excluding the dividend on the financial year 2022-2023 and increased with the amount of the capital increase.