EVS Broadcast Equipment invites its shareholders to a Combined General Meeting on May 20, 2014
April 16 2014 - 12:00PM
The Board
proposes a dividend translating into a pay-out ratio of 86%, in
line with the average of the last 10 years
EVS Broadcast Equipment, the
leading provider of live video production systems, today published
the invitation to its combined Ordinary, Special and extraordinary
General Meeting, to be held on May 20, 2014, at its headquarters in
Liège.
Aside from the usual topics, the
Board of Directors will propose shareholders, during the
Ordinary General Meeting, to approve
the following resolutions:
-
The payment of a total
gross dividend of EUR 2.16 (including the interim dividend
of EUR 1.16 paid in last November), implying a final gross dividend
of EUR 1.00 to be paid on June 2, 2014;
-
A profit sharing
plan in the form of a grant of 37 EVS shares for EVS
employees, adjusted for the employee time spent with the firm in
2013;
-
The renewal of the
mandates of Acces Direct and Christian Raskin as
Independent Directors.
The dividend proposal (18.2% lower
than 2012) takes into account the 18.5% decrease of net profit in
an uneven year 2013, the reviewed budget for the new headquarter
(between EUR 55 million and EUR 60 million), mainly due higher
investments in future-proof equipment), the willingness to keep
some financial flexibility if the company needs to accelerate
investments for growth and the cautiousness of the EVS management
relating to the short term market conditions (as announced in 2013
results press release). The Board has also decided to adapt the
dividend policy. As from 2013, the Board of Directors has
established a dividend policy which aims at paying a high portion
of the net profit, taking into account the cash needed to finance
the company growth, and with a maximum pay-out ratio of 100%. This
EUR 2.16 dividend represents a pay-out ratio of 85.7% (in line with
average of last 10 years) and a dividend yield of 4.4% (gross
dividend divided by average share price in 2013);
In line with the desire of the
Board to increase the number of independent Directors, an internal
rule has been set to limit non-executives Board mandates duration
to a maximum of 12 years or 3 successive mandates. Therefore,
Francis Bodson, Jean Dumbruch and Jacques Galloy are not
re-eligible as they have been Board members for more than 12 years.
They have all three been instrumental in building the success of
EVS since a long time. The Board wants to express its sincere
gratitude for their continued support and longstanding commitment
to the development of the group.
A Special
General Meeting will follow the Ordinary General meeting
to propose shareholders to approve change of control clauses in
relation with the EUR 24 million senior debt secured in last
November 2013 with BEI, ING and BNPPF.
An Extraordinary General Meeting will also take
place, to propose shareholders to renew the authorizations given to
the Board to buy back shares and to use the authorized capital
procedures. Both authorizations are not valid in case of takeover
bids.
All documents relating to the
combined General Meeting of May 20 are available on the website of
EVS Broadcast Equipment at www.evs.com, including the 2013
financial annual report.
For more information, please
contact:
Joop JANSSEN, Managing Director & CEO
Magdalena BARON, Senior Vice President, CFO
Geoffroy d'OULTREMONT, Vice President Investor Relations &
Corporate Communication
EVS Broadcast Equipment S.A., Liege Science Park, 16 rue du Bois
Saint-Jean, B-4102 Seraing, Belgium
Tel: +32 4 361 70 14. E-mail: corpcom@evs.com;
www.evs.com |
Forward Looking Statements
This press release contains forward-looking statements with respect
to the business, financial condition, and results of operations of
EVS and its affiliates. These statements are based on the current
expectations or beliefs of EVS's management and are subject to a
number of risks and uncertainties that could cause actual results
or performance of the Company to differ materially from those
contemplated in such forward-looking statements. These risks and
uncertainties relate to changes in technology and market
requirements, the company's concentration on one industry, decline
in demand for the company's products and those of its affiliates,
inability to timely develop and introduce new technologies,
products and applications, and loss of market share and pressure on
pricing resulting from competition which could cause the actual
results or performance of the company to differ materially from
those contemplated in such forward-looking statements. EVS
undertakes no obligation to publicly release any revisions to these
forward-looking statements to reflect events or circumstances after
the date hereof or to reflect the occurrence of unanticipated
events.
About EVS
EVS provides its customers with reliable and innovative technology
to enable the production of live, enriched video programming,
allowing them to work more efficiently and boost their revenue
streams. Its industry-leading broadcast and media production
systems are used by broadcasters, production companies,
post-production facilities, film studios, content owners and
archive libraries around the globe. It spans four key markets -
Sports, Entertainment, News and Media.
Founded in 1994, its innovative Live Slow Motion system
revolutionized live broadcasting. Its reliable and integrated
tapeless solutions, based around its market-leading XT server
range, are now widely used to deliver live productions worldwide.
Today, it continues to develop practical innovations, such as its
C-Cast second-screen delivery platform, to help customers maximize
the value of their media content.
The company is headquartered in Belgium and has offices in Europe,
the Middle East, Asia and North America. Approximately 500 EVS
professionals from 21 offices are selling its branded products in
over 100 countries, and provide customer support globally. EVS is a
public company traded on Euronext Brussels: EVS, ISIN:
BE0003820371. For more information, please visit
www.evs.com.
dcinex, of which EVS owns 41.3%, is the European leader for Digital
Cinema technology and services in Europe with more than 5,500
committed digital screens in Europe, out of which 3,700 have
already been deployed. www.dcinex.com. |
Press release in pdf
format
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX 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: EVS Broadcast Equipment via Globenewswire
HUG#1778006
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