The Accell Group has announced the conversion ratio of its stock dividend for the financial year 2017.
Shareholders were given the choice to receive a dividend for the financial year 2017 either in cash or shares charged to the share premium reserve, the number of dividend rights that entitles to one new ordinary Accell Group share with a nominal value of €0.01 has been set at 36.7.
The conversion ratio is based on the volume-weighted average price of the Accell Group share during the period from 2nd- 15th May 2018. The stock dividend represents an added value of three per cent compared with the corresponding cash dividend of €0.50 per ordinary share with a nominal value of €0.01.
Accell Group has further announced that shareholders representing 44 per cent of the total number of outstanding ordinary shares have chosen to receive the dividend in stock. Based on the conversion ratio and after delivery of the ordinary shares due to the conversion of dividend rights, the total number of outstanding ordinary shares will rise by 314,480 to 26,597,354.
Dividend payment in cash and delivery of the ordinary shares due to the conversion of dividend rights will take place as of 18th May 2018.