FCA announces that the previously declared special cash distribution has become unconditional
January 13 2021 - 5:45AM
FCA announces that the previously declared special cash
distribution has become unconditional
FCA announced today that the cash distribution
declared on January 4, 2021 has become unconditional.
As previously announced, the special cash
distribution of €1.84 per common share corresponding to a total
distribution of approximately €2.9 billion (the “cash
distribution”) is payable to holders of FCA common shares of record
as of the close of business on Friday, January 15, 2021.
The calendar for the cash distribution for both
the New York Stock Exchange (“NYSE”) and the Mercato Telematico
Azionario (“MTA”) is as follows: (i) ex-date on Thursday, January
14, 2021; (ii) record date on Friday, January 15, 2021 and (iii)
payment date on January 29, 2021. Shareholders holding common
shares traded on the NYSE will receive the dividend in U.S. dollars
at the official USD/EUR exchange rate reported today by the
European Central Bank.
While payment of the cash distribution will
occur after closing of the merger, for the avoidance of doubt,
no dividend will be payable with respect to shares of
Stellantis issued to former shareholders of PSA upon effectiveness
of the merger, or to any shareholder purchasing Stellantis shares
after effectiveness of the merger. As previously announced,
Stellantis’ common shares will begin trading on the Mercato
Telematico Azionario in Milan and Euronext in Paris on Monday,
January 18, 2021, and on the New York Stock Exchange on Tuesday,
January 19, 2021, in each case under the ticker symbol
“STLA”.
London, January 13, 2021
For further information:tel.: +39 (011) 00
31111Email: mediarelations@fcagroup.com www.fcagroup.com
FORWARD-LOOKING STATEMENTS
This communication contains forward-looking
statements. In particular, these forward-looking statements include
statements regarding future financial performance and the
expectations of FCA and PSA (the “Parties”) as to the achievement
of certain targeted metrics at any future date or for any future
period are forward-looking statements. These statements may include
terms such as “may”, “will”, “expect”, “could”, “should”, “intend”,
“estimate”, “anticipate”, “believe”, “remain”, “on track”,
“design”, “target”, “objective”, “goal”, “forecast”, “projection”,
“outlook”, “prospects”, “plan”, or similar terms. Forward-looking
statements are not guarantees of future performance. Rather, they
are based on the Parties’ current state of knowledge, future
expectations and projections about future events and are by their
nature, subject to inherent risks and uncertainties. They relate to
events and depend on circumstances that may or may not occur or
exist in the future and, as such, undue reliance should not be
placed on them.
Actual results may differ materially from those
expressed in forward-looking statements as a result of a variety of
factors, including: the impact of the COVID-19 pandemic, the
ability of PSA and FCA and/or the combined group resulting from the
proposed transaction (together with the Parties, the “Companies”)
to launch new products successfully and to maintain vehicle
shipment volumes; changes in the global financial markets, general
economic environment and changes in demand for automotive products,
which is subject to cyclicality; changes in local economic and
political conditions, changes in trade policy and the imposition of
global and regional tariffs or tariffs targeted to the automotive
industry, the enactment of tax reforms or other changes in tax laws
and regulations; the Companies’ ability to expand certain of their
brands globally; the Companies’ ability to offer innovative,
attractive products; the Companies’ ability to develop, manufacture
and sell vehicles with advanced features including enhanced
electrification, connectivity and autonomous-driving
characteristics; various types of claims, lawsuits, governmental
investigations and other contingencies, including product liability
and warranty claims and environmental claims, investigations and
lawsuits; material operating expenditures in relation to compliance
with environmental, health and safety regulations; the intense
level of competition in the automotive industry, which may increase
due to consolidation; exposure to shortfalls in the funding of the
Parties’ defined benefit pension plans; the ability to provide or
arrange for access to adequate financing for dealers and retail
customers and associated risks related to the establishment and
operations of financial services companies; the ability to access
funding to execute the Companies’ business plans and improve their
businesses, financial condition and results of operations; a
significant malfunction, disruption or security breach compromising
information technology systems or the electronic control systems
contained in the Companies’ vehicles; the Companies’ ability to
realize anticipated benefits from joint venture arrangements;
disruptions arising from political, social and economic
instability; risks associated with our relationships with
employees, dealers and suppliers; increases in costs, disruptions
of supply or shortages of raw materials; developments in labor and
industrial relations and developments in applicable labor laws;
exchange rate fluctuations, interest rate changes, credit risk and
other market risks; political and civil unrest; earthquakes or
other disasters; uncertainties as to whether the proposed business
combination discussed in this document will be consummated or as to
the timing thereof; the risk that the announcement of the proposed
business combination may make it more difficult for the Parties to
establish or maintain relationships with their employees, suppliers
and other business partners or governmental entities; the risk that
the businesses of the Parties will be adversely impacted during the
pendency of the proposed business combination; risks related to the
regulatory approvals necessary for the combination; the risk that
the operations of PSA and FCA will not be integrated successfully
and other risks and uncertainties.
Any forward-looking statements contained in this
communication speak only as of the date of this document and the
Parties disclaim any obligation to update or revise publicly
forward-looking statements. Further information concerning the
Parties and their businesses, including factors that could
materially affect the Parties’ financial results, are included in
FCA’s reports and filings with the SEC (including the registration
statement on Form F-4 filed with the SEC on July 24, 2020, as
amended, which was declared effective on November 20,2020), the AFM
and CONSOB and PSA’s filings with the AMF.
- FCA announces that the previously declared special cash
distribution has become unconditional
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