The Extraordinary General Meeting of the shareholders of the Company approved the establishment of a five-year dividend reinvestment program (2023 – 2028).
ALPHA TRUST – ANDROMEDA announces the distribution of dividends to eligible shareholders from retained earnings totaling €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 inform the investing public through subsequent announcements about the above amount per share increased by the amount corresponding to the own shares. This dividend amount will not be subject to withholding tax, pursuant to Article 46 of Law 4172/2013, as it stands after its amendment.
The Extraordinary General Meeting of the shareholders of the Company approved the establishment of a dividend reinvestment program of five years duration (2023 – 2028) (hereinafter referred to as the “Program”), unanimously decided 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 Meeting of Shareholders of the Company on July 26, 2023, the Board of Directors, with its decision dated 11.09.2024, approved, alongside the dividend distribution from retained earnings totaling €616,889.37, or €0.17 per share, the extraordinary increase of the Company’s share capital by an amount of €324,242.19, with the issuance of up to 94,325 common, nominal voting shares, 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 first five (5) daily weighted average price (VWAP) of the share during the exercising period of the dividend reinvestment right from retained earnings (i.e., from 23.10.2024 to 30.10.2024), reduced by a discount rate of 1% (discount percentage), rounded to the next higher second decimal digit.
The increase will be exclusively for existing shareholders registered in the A.S.T. of the “Central Securities Depository S.A.” on the date determining the beneficiaries of the dividend from retained earnings (record date), i.e., 22.10.2024, provided that and to the extent that shareholders choose, at their discretion. In particular, the aforementioned extraordinary increase in the Company’s share capital will be carried out by offsetting all or part of the claim of shareholders entitled to reinvestment, according to the Program, for the payment of the distribution of retained earnings, pursuant to Article 20 of Law 4548/2018.
The right to choose whether to exercise the right of reinvestment of the dividend from the distribution of retained earnings that they are entitled to, or to receive the dividend in cash, or to combine the two aforementioned methods of receipt of the said dividend, will be exercised by shareholders entitled to participate in the Program, within a period of fourteen (14) days from the day after the dividend record date, i.e., from 23.10.2024 to 05.11.2024 (payment deadline) by submitting their relevant declaration to the Participating Institutions in the System of Book-Entry Securities (Banks and Brokerage Firms).
The number of new shares of the Company that the eligible shareholder may receive will result from the division of the amount of the dividend from retained earnings that they will voluntarily declare they wish to reinvest in the Company by the issue price of the new shares. If this division results in a fractional number, it will be rounded down to the nearest whole number, which will also be the number of new shares of the Company that the shareholder may receive under the Program. Any remaining amount of dividend from retained earnings for each shareholder will be paid to them in cash on the payment date of the dividend, i.e., on 15.11.2024.
Finally, it is clarified that any shareholders who do not exercise, either wholly or partially, their right to invest the dividend from retained earnings in shares of the Company and therefore do not participate in the aforementioned increase of capital, either wholly or partially, will receive the total or the remainder (as applicable) of the dividend they are entitled to in cash.
A shareholder of the Company who does not hold the required number of shares for acquiring 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 capital increase of the Company, the new shares of the Company that will not be taken up by the eligible shareholders will not be made available to third parties or other shareholders, but the share capital of the Company will be increased up to the amount of the coverage according to Article 28 of Law 4548/2018, and the Board of Directors of the Company will accordingly adjust Article 5 (titled “Share Capital – Capital Increase – Preemptive Rights”) of the Company’s Articles of Incorporation, determining the amount of capital that will result from the partial coverage of the increase of its share capital.
Beneficiaries of the dividends 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 Dematerialized Securities System on Tuesday, 22.10.2024 (record date). 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 reinvest it.
Payment will begin on Friday, 15.11.2024 and will be made through Piraeus Bank.