The information memorandum relating to the optional dividend has just been published on the Montea website. During the option period, (from 27 May to 10 June 2020), shareholders can decide to transfer their dividend rights (in full or in part) to the capital of Montea in exchange for new shares.
On 18 May 2020, the statutory manager of Montea Comm.VA (Montea), in the context of the authorised capital, subject to the condition precedent of the decision to pay out the gross dividend by the general meeting of Montea on 19 May 2020, decided to offer the shareholders of Montea, by way of an optional dividend, the possibility of transferring their claim arising from the dividend payment into the capital of Montea. On 19 May 2020, the general meeting of shareholders of Montea approved payment of the gross dividend.
This means that all shareholders have the possibility of transferring their claim arising from the dividend payment into the capital of Montea. This will be done through the issue of new shares (in addition to the option of receiving the dividend in cash or the possibility of opting for a combination of both of the previous options). The new shares will participate in the profit as of 1 January 2020 (with coupon no. 23 attached). The gross dividend of € 2.54 per share is represented by coupon no. 22 (detached on 22 May 2020) to which 15,767,245 shares are entitled.
One new share can be subscribed to by contributing 42 no 22 coupons (each in the amount of the net dividend of € 1.778 per coupon), which represent shares of the same form. Overall, this equates to an issue price of € 74.676 per new share (i.e. 42 no 22 coupons x € 1.778).
The issue price of the new shares is € 74.676 per share, being a discount of 4.70% in relation to the adjusted (being after deduction of the gross dividend of € 2.54 for the financial year 2019) 30-day average Montea share price prior to (and including) 15 May 2020. Based on the adjusted (being after deduction of the gross dividend of € 2.54 for the financial year 2019) closing price of 18 May 2020, the discount is 8.22%.
More information about the terms of the optional dividend is available in the information memorandum, which can be found on www.montea.com. Shareholders are requested to read this information memorandum. Any decision to acquire new shares in the context of the optional dividend must be based on all of the information provided in the information memorandum.