The information memorandum concerning the optional dividend has just been published on the website (www.montea.com/investor-relations/corporate-information). Shareholders can decide to bring their dividend rights (fully or partially) in the capital of Montea in exchange for new shares during the option period (from 23 May to 6 June 2018).
On 14 May 2018, the statutory manager of Montea Comm.VA (Montea) decided to offer the shareholders of Montea, by way of option dividend, the possibility to bring their claim (consisting of the dividend payment) in the capital of Montea, within the framework of the authorized capital, under the condition precedent of the decision to pay out the gross dividend at the general meeting of shareholders of 15 May 2018. On 15 May, the general meeting of shareholders of Montea approved the payment of the gross dividend.
All shareholders thus have the possibility to bring their claim (consisting of the dividend payment) in the capital of Montea. This will be carried out by the issue of new shares (in addition to the option to receive the dividend in cash or the possibility of a combination of both previous options). The new shares will share in the profit as of 1 January 2018 (with coupon no. 20 attached). The gross dividend of €2.17 per share consists of i) €1.63 gross per share for the period from 1 January 2017 to 30 September 2017, represented by coupon no. 18 (detached on 13 September 2017) to which 9,951,884 shares are entitled, and ii) €0.54 gross per share for the period from 1 October 2017 to 31 December 2017, represented by coupon no. 19 (detached on 4 April 2018), to which 11,610,531 shares are entitled.
One new share can be subscribed by bringing in 38 no. 18 coupons (each for the amount of the net dividend of €1.141 per coupon) representing shares of the same form. This boils down to an issue price of €42.81 per new share (i.e. 38 no. 18 coupons x €1.141 exclusive of cash component). In addition, the shareholder also receives, for each new share he subscribes, a cash component equal to the difference between the total amount of the dividend claims for the number of no. 18 coupons brought in and the issue price, i.e. €0.55.
One share can be subscribed by bringing in 114 no. 19 coupons (each for the amount of the net dividend of €0.378 per coupon) representing shares of the same form. This boils down to an issue price of €42.81 per new share (i.e. 114 no. 19 coupons x €.0378 exclusive of cash component). In addition, the shareholder also receives, for each new share he subscribes, a cash component equal to the difference between the total amount of the dividend claims for the number of no. 19 coupons and the issue price, i.e. €0.28.
Coupons with the same number must always be brought in per new share subscribed. In other words, a combination of no. 18 and 19 coupons is not possible for subscribing to a new share.
The issue price of the new shares amounts to €42.81 per share, a reduction of 3.5% compared with the 30-day average stock exchange price of Montea prior to 14 May 2018. Based on the closing price of 11 May 2018 of €45.20, the reduction amounts to 5.3%. 38 no. 18 coupons (detached on 13 September 2017) entitle the holder to 1 new share. 114 no. 19 coupons (detached on 4 April 2018) entitle the holder to 1 new share.
More information on the terms and conditions of the optional dividend is provided in the information memorandum which is posted on www.montea.com/investor-relations/corporate-information. Shareholders are requested to peruse said information memorandum. Every decision to acquire new shares under the optional dividend must be based on all the information provided in the information memorandum.
