The anonymous company named “ALPHA TRUST – ANDROMEDA Portfolio Investment Company” announces to the investing public that the Board of Directors on 11.09.2024 decided, in accordance with the provision of Article 162 paragraph 3 of Law 4548/2018, the distribution of dividends to eligible shareholders from retained earnings amounting to a total of €616,889.37 which corresponds to €0.17 per share.
It is noted that the above distribution amount per share will be increased by the amount corresponding to the own shares that the Company will hold on the cut-off date, i.e., 21.10.2024, given that the own shares are not entitled to dividends.
The Company will provide further information to the investing public regarding the above amount per share increased by the amount corresponding to the own shares via a new announcement. The said dividend amount will not be subject to withholding tax, pursuant to Article 46 of Law 4172/2013, as amended.
The Extraordinary General Assembly of the Company’s shareholders, by its decision dated 26.07.2023, approved the establishment of a five-year dividend reinvestment program (2023 – 2028) (hereinafter referred to for brevity as the “Program”), unanimously decided on the general terms of its implementation, and authorized the Board of Directors to determine the specific terms on an annual basis.
Specifically, in execution and application of the general terms of the Program established by the Extraordinary General Assembly of Shareholders on July 26, 2023, the Board of Directors, by its decision dated 11.09.2024, approved, alongside the distribution of dividends from retained earnings amounting to a total of €616,889.37, i.e., €0.17 per share, and the extraordinary increase of the Company’s share capital up to an amount of €324,242.19, by issuing up to 94,325 common, registered shares with voting rights, with a nominal value of three euros and four thousand three hundred seventy-five cents (€3.4375) each, and an issue price equal to the average of the five (5) first daily volume-weighted average price (VWAP) of the shares during the period when the right to reinvest the dividend from retained earnings can be exercised (i.e., from 23.10.2024 until 30.10.2024), reduced by a percentage of 1% (discount rate), rounded up to the nearest second decimal point.
The increase will be exclusively in favor of the existing and registered shareholders in the “Central Securities Depository S.A.” on the record date for determining the eligible for dividend distribution from retained earnings, i.e., 22.10.2024, and provided that, in whole or in part, the shareholders choose at their discretion.
Specifically, the aforementioned extraordinary increase of the Company’s share capital will be carried out by offsetting all or part of the claims of the shareholders entitled to reinvestment, according to the Program, for the payment of the distribution of retained earnings, in accordance with Article 20 of Law 4548/2018.
The right to choose whether to exercise the right to reinvest the dividend from retained earnings that they are entitled to or to receive the dividend in cash or to combine the two aforementioned methods of collecting the said dividend shall be exercised by the shareholders eligible to participate in the Program, within a period of fourteen (14) days from the day following the record date for the distribution (i.e., from 23.10.2024 to 05.11.2024 (deadline for payment increase)) by submitting their relevant declaration to the Participants in the Electronic Securities System (Banks and Brokerage Firms).
The number of new shares of the Company that the eligible shareholder may receive will be determined by dividing the amount of the dividend from retained earnings that he/she chooses to reinvest in the Company by the subscription price of the new shares.
If this division results in a fractional number, it will be rounded down to the nearest integer, which will be the number of new shares of the Company that the shareholder can receive under the Program.
Any remaining dividend amount from the distribution of retained earnings for each shareholder will be paid to him/her in cash on the dividend payment date, i.e., on 15.11.2024.
Finally, it is clarified that any shareholders who do not exercise, either in full or in part, their right to reinvest the dividend from retained earnings in shares of the Company and consequently will not participate in the above increase in capital, either in whole or in part, will receive the total or remaining (as applicable) amount of the dividend due to them in cash. A shareholder of the Company who does not have the required number of shares to acquire at least 1 new share of the Company will not have the right to participate in the Program and will receive the total amount corresponding to the dividend from retained earnings exclusively in cash.
In the case of partial coverage of the increase in the Company’s share capital, the new shares of the Company that are not subscribed by the eligible shareholders will not be allocated to third parties or to other shareholders, but the share capital of the Company will increase up to the amount of the coverage in accordance with Article 28 of Law 4548/2018 and the Board of Directors of the Company will accordingly amend Article 5 (titled “Share Capital – Capital Increase – Preferential Rights”) of the Company’s Articles of Association, specifying the amount of capital resulting from the partial coverage of the increase in its share capital. The beneficiaries of the dividend from retained earnings and the right to reinvest the said amount, as mentioned above, are the shareholders of the Company who will be registered in the records of the Electronic Securities System on Tuesday 22.10.2024 (record date).
Payment will begin on Friday 15.11.2024 and will be made through Piraeus Bank.
From Monday 21.10.2024 (cut-off date), the shares of the Company will be traded on the Athens Stock Exchange without the right to the dividend from retained earnings and without the right to its reinvestment.