Kaufman & Broad SA : Dividend for the fiscal year ended at 2016, november 30 - Option of the dividend in shares
May 11 2017 - 01:19PM
Dividend for the
fiscal year ended at 2016, November 30th -
Option of the
dividend in shares
Neuilly-sur-Seine, May 11th, 2017
At the Annual General Meeting held
today, Kaufman & Broad's shareholders approved the proposed
€1.85 per share dividend for the financial year ended 30 November
2016 and decided to offer shareholders an option to receive the
dividend payment in shares.
The issue price of the new shares
to be issued in consideration for the dividend has been set at
€30.13 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
16, 2017. The shareholders may opt for the dividend payment in cash
or in new shares from May 16, 2017 to May 26, 2017 included, by
sending their request to their financial intermediaries. For the
shareholders who have not exercised their dividend payment option
by May 26, 2017, the dividend shall exclusively be paid in
cash.
For the shareholders who have not
opted for a dividend payment in shares, the dividend shall be paid
in cash on June 2, 2017. For the shareholders who have opted to
receive the dividend in shares, settlement and delivery of the
shares will be as from June 2, 2017.
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 June 2, 2017. 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 1,197,140 shares (excluding additional shares issued
for rounding purposes), representing approximately 5.75% of the
share capital and 5.10% of the voting rights of Kaufman & Broad
based on the total number of shares and voting rights as of April
30, 2017
Following this transaction, and in
order to keep the number of shares on a fully diluted basis
unchanged, Kaufman & Broad will cancel as many treasury shares
as it will have been created in connection with the payment of the
dividend in shares.
Calendar:
15 May
2017 |
Record
date for the payment of the dividend
|
16 May
2017 |
Ex-date
for the payment of the dividend and opening of the option period
for the payment of the dividend in shares.
|
26 May
2017 |
Closing
of the option period for the payment of the dividend in
shares
|
31 May
2017 |
Announcement of the option's result
|
2 June
2017 |
Dividend
payment in cash, settlement of the dividend in shares. |
This press release
is available from the website www.kaufmanbroad.fr
Contacts
Chief Financial
Officer
Bruno Coche
+33 1.41.43.44 73
Infos-invest@ketb.com |
Press Relations |
Camille Petit
Burson-Marsteller
+33 1.56 03 12 80
contact.presse@ketb.com |
About Kaufman
& Broad - For nearly 50 years,
Kaufman & Broad has been designing, developing,
building and selling single-family homes in communities,
apartments, and offices on behalf of third parties. Its size and
profitability, combined with its strong brand name, have made
Kaufman & Broad one of France's leading
developer-homebuilders.
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 and Annex III of the AMF Instruction n°
2016-04 of 21 October 2016.
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 2016 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
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 17 -086 dated March 31,
2017.
Dividends KB SA 2017
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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