Kaufman & Broad SA : Dividend for the fiscal year ended at 2017, November 30th - options of the dividend in shares
03 Mai 2018 - 6:48PM
Press release
DIVIDEND FOR THE FISCAL YEAR
ENDED
AT 2017, NOVEMBER 30TH
OPTIONs OF THE DIVIDEND IN SHARES
PARIS, May
3rd, 2018 - At the Annual
General Meeting held today, Kaufman & Broad's shareholders
approved the proposed €2.10 per share dividend for the financial
year ended 30 November 2017 and decided to offer shareholders an
option between (i) the payment of all of the dividend in cash, (ii)
the payment of the whole of the dividend in new shares of the
Company or (iii) the payment of the portion corresponding to one
half of the dividend (equal to 1.05 euro per share) in new shares,
the other half being paid in cash, it being understood that the
shareholder will only be entitled to one of the choices
proposed.
The issue price of these new
shares to be issued in consideration for the dividend has been set
at €37.60 per share. This issue price represents in accordance with
the provisions of Article L. 232-19 of the French Commercial Code
90% of the average prices quoted of the Kaufman & Broad share
on the regulated market of Euronext Paris during the 20 trading
days preceding the date of the Annual General Meeting, less the
amount of the dividend, and rounded upward to the nearest euro
cent.
The dividend ex-date is set on May
9, 2018. The shareholders may opt for one of the three options from
May 9, 2018 to May 22, 2018 included, by sending their
request to their financial intermediaries. For the shareholders who
have not exercised their dividend payment option by May 22, 2018,
the dividend shall exclusively be paid in cash.
For the shareholders who have not opted for a payment of all or
part of the dividend in shares, the dividend shall be paid fully in
cash on May 30, 2018. For the shareholders who have opted to
receive all or part of the dividend in shares, settlement and
delivery of the shares will be as from May 30, 2018; the
corresponding part, if any, of the payment in cash will be paid on
May 30, 2018.
If the amount of dividends for
which the option is exercised does not correspond to a whole number
of shares, shareholders may choose to either receive the rounded-up
whole number of shares by paying the difference in cash on the day
they exercise the option or receive the rounded-down whole number
of shares and the balance in cash.
The shares issued as dividend
payment will carry dividend rights as from January 1, 2018. An
application to list these new shares on Euronext Paris will be
made. The new shares will rank pari passu with existing shares and
will be fully fungible with existing shares already listed.
The maximum total number of new
shares which may be issued for the purpose of the dividend payment
in shares is 1,176,979 shares (excluding additional shares issued
for rounding purposes), representing approximately 5.59% of the
share capital and 5.61% of the voting rights of Kaufman &
Broad which can be exercised in General Meetings, based on
the total number of shares and voting rights published on
April 6, 2018.
Calendar:
7 May
2018 |
Record
date for the payment of the dividend
|
9 May
2018 |
Ex-date
for the payment of the dividend and opening of the option period
for the payment of all or part of the dividend in shares
|
22 May
2018 |
Closing
of the option period for the payment of all or part of the dividend
in shares
|
25 May
2018 |
Announcement of the option's result
|
30 May
2018 |
Dividend
payment in cash, settlement of the dividend in shares |
Disclaimer
This press
release constitutes the information document required pursuant to
Article 212-4 4° and 212-5 5° of the French Financial Market
Authority (AMF) General Regulation and Article 18 of the AMF
Instruction n° 2016-04 of 21 October 2016, as amended on January
15, 2018.
This press
release does not constitute an offer to purchase securities. This
press release and any other document relating to the payment of
dividend in shares may only be distributed or disseminated outside
of France in conformity with applicable local laws and regulations
and shall not constitute an offer for securities in any
jurisdiction where such an offer would infringe applicable laws and
regulations.
The option to
receive the dividend for the financial year ended 30 November 2017
payment in shares, as described herein, is not available to
shareholders residing in any country where such option would
require registration or approval by local securities regulators.
Shareholders residing outside of France must inform themselves
about, and comply with, any restrictions which may apply under
their local laws.
For tax purposes
in relation to the dividend payment in shares, the shareholders are
invited to review their personal situation with their own tax
advisor.
In making the
election to receive all or part of the dividend payment in shares,
shareholders should take into consideration the risks associated
with an investment in shares, including those described in chapter
1.2 of the registration document filed with the AMF under number
18-0226 dated March 29, 2018.
This press release
is available on the www.kaufmanbroad.fr website
Contacts
Chief Financial
Officer
Bruno Coche
+33 (1) 41 43 44 73
Infos-invest@ketb.com
Media relations:
Hopscotch Capital: Violaine Danet
+33 (1) 58 65 00 77 / k&b@hopscotchcapital.fr
Kaufman & Broad: Emmeline
Cacitti
+33 (6) 72 42 66 24 / ecacitti@ketb.com
About Kaufman
& Broad - Kaufman & Broad has been designing,
building, and selling single-family homes in communities,
apartments, and offices on behalf of third parties for 50 years.
Kaufman & Broad is one of the leading French
developers-builders due to the combination of its size and
profitability, and the strength of its brand.
Dividend for the fiscal year 2017,
November 30th
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Kaufman & Broad SA via Globenewswire
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