Rémy Cointreau: Result of the Option to Receive the 2021-22 Exceptional Dividend Payment in Shares

Rhea-AI Summary

The Shareholders’ Meeting of Rémy Cointreau, held on July 21, 2022, approved an exceptional dividend of €1.00 per share for the 2021-22 fiscal year. Shareholders could choose between cash or shares, with 67.6% electing shares. A total of 223,147 new shares will be issued at an issuance price of €155.72, representing 90% of the average share price over the preceding 20 trading days. The shares will be settled and delivered on October 3, 2022, while cash dividends for non-electing shareholders will also start on that date.

Positive

• Shareholders can choose between a cash dividend of €1.00 or shares.
• 67.6% of shareholders opted for the dividend in shares, indicating confidence in the company.
• The issuance of 223,147 new shares enhances shareholder value.

Negative

• The issuance price of €155.72 may be perceived as high compared to current market prices.

PARIS--(BUSINESS WIRE)-- Regulatory News:

The Shareholders’ Meeting of Rémy Cointreau (Paris:RCO), held on July 21, 2022 in Paris, has approved the payment of an exceptional dividend of €1.00 per share, related to the 2021-22 fiscal year, for which it decided to give each shareholder the option of receiving payment in cash or in shares.

The option period was open from July 29 to September 19, 2022 included. At the end of the option period, 67.6% of rights were exercised in favor of the 2021-22 exceptional dividend payment in shares.

For the purposes of the dividend payment in shares, 223,147 new shares will be issued. As a reminder, the issuance price of the new shares to be issued in payment of the dividend is set at €155.72. It represents 90% of the average of the Company’s share prices on Euronext Paris of the 20 trading days preceding the date of the Shareholders’ Meeting less the amount of the dividend, rounded up to the nearest euro cent.

The settlement and delivery of the shares as well as their admission to trading on Euronext Paris will occur on October 3, 2022. The shares will carry dividend rights as from April 1, 2022 (the beginning of the current financial year) and will be fully assimilated to existing shares already listed.

The cash dividend to be paid to the shareholders who did not elected the share option will be paid from October 3, 2022 onwards.

Consequently, the share capital of Rémy Cointreau amounts to €82,837,827.20 divided into 51,773,642 shares with a par value of €1.60 each.

Regulated information in connection with this press release can be found at www.remy-cointreau.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220929005637/en/

Investor relations : Célia d’Everlange / investor-relations@remy-cointreau.com

Source: Rémy Cointreau

FAQ

What is the dividend amount approved by Rémy Cointreau?

Rémy Cointreau approved an exceptional dividend of €1.00 per share for the 2021-22 fiscal year.

When will the cash dividend be paid to shareholders?

The cash dividend will be paid from October 3, 2022, onwards.

What percentage of shareholders opted for the dividend in shares?

67.6% of shareholders opted for the dividend payment in shares.

What is the issuance price for the new shares related to the dividend?

The issuance price for the new shares is set at €155.72.

When will the new shares be admitted to trading?

The new shares will be delivered and admitted to trading on Euronext Paris on October 3, 2022.