Outcome of the optional dividend for the 2011/2012 financial year: 58% of the coupons are distributed in the form of new ordinary shares, resulting in a capital increase of EUR 24.6 million
Gimv today announced that 57.8% of the no.19 coupons had been presented in return for 787,781 new ordinary shares, for a total amount of EUR 24.6 million.
Gimv's AGM on 27 June 2012 approved the distribution of a gross dividend of EUR 2.45 per share (EUR 1.8375 net) for the 2011/2012 financial year. In addition, Gimv offered shareholders the option of subscribing to new ordinary shares, each share being exchanged for 17 no.19 coupons (EUR 31.2375), 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 2012. Gimv shareholders were asked to communicate their choice between 4 and 27 July 2012.
In total, 13,392,277 no.19 coupons were presented in exchange for 787,781 new ordinary shares, for a total amount of EUR 24.6 million. These new shares will be issued on 3 August 2012 and will also be admitted to listing on Euronext Brussels on the same date. The balance of the dividend will also be distributed on 3 August 2012 in cash, amounting to a gross total of EUR 32.2 million.
As a result of this capital increase, Gimv’s equity (group's share) will amount to EUR 942.4 million and will be represented by 23,963,786 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 6,454,826 shares, equating to 26.94% of the capital. Consequently, Gimv's free float currently amounts to 73.06%.
This capital increase adds EUR 24.6 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.