NN Group announces stock fraction for 2015 final dividend and repurchase of shares to neutralise stock dividend
(Thomson Reuters ONE) -
As NN Group announced on 25 February 2016, its shareholders were given the
option to receive the final dividend for 2015 of EUR 1.05 per ordinary share
either in cash or in ordinary shares.
Shareholders who have elected to receive the dividend in shares will receive one
NN Group N.V. ordinary share for every 24.71 ordinary shares held. The stock
fraction is based on the volume-weighted average price of EUR 25.948 for NN
Group shares on Euronext Amsterdam for the five trading days from 15 June
through 21 June 2016. Any remaining stock fractions will be paid in cash using
the volume-weighted average share price of EUR 25.948. The stock and cash
dividend are approximately equal in value. For shareholders that have not made a
choice during the election period, the dividend will be paid in cash.
Approximately 45.8% of shareholders have elected to receive the dividend in
ordinary shares. Consequently, 6,020,620 new ordinary shares will be issued as
stock dividend.
NN Group will neutralise the dilutive effect of the stock dividend through the
repurchase of ordinary shares for a total amount of EUR 156 million, equivalent
to the value of the stock dividend. This share buyback will be in addition to
the open market share buyback programme for an amount of up to EUR 500 million
which was announced on 26 May 2016. The share buyback will be executed under the
programme and within the limitations of the existing authority granted by the
General Meeting on 2 June 2016. The shares will be repurchased at a price that
does not exceed the last independent trade or the highest current independent
bid on Euronext Amsterdam. The programme will be executed by financial
intermediaries by 31 May 2017, and will be performed in compliance with the safe
harbour provisions for share buybacks. NN Group intends to cancel all of the
repurchased shares acquired under the programme.
Payment of the dividend in cash, after deduction of statutory withholding tax if
applicable, and the transfer of the new ordinary shares and settlement of
fractions in cash will take place on 28 June 2016. For further information:
https://www.nn-group.com/Investors/Dividends.htm
Press enquiries NN Group Investor enquiries NN Group
Daphne Andriesse Investor Relations
+31 (0) 6 83 641 626 +31 88 663 5464
Daphne.Andriesse(at)nn-group.com investor.relations(at)nn-group.com
NN Group profile
NN Group is an international insurance and asset management company, active in
more than 18 countries, with a strong presence in a number of European countries
and Japan. With around 11,500 employees the group offers retirement services,
insurance, investments and banking to more than 15 million customers. NN Group
includes Nationale-Nederlanden, NN and NN Investment Partners. NN Group is
listed on Euronext Amsterdam (NN).
Important legal information
All figures in this document are unaudited. Small differences are possible in
the tables due to rounding. Certain of the statements contained herein are not
historical facts, including, without limitation, certain statements made of
future expectations and other forward-looking statements that are based on
management's current views and assumptions and involve known and unknown risks
and uncertainties that could cause actual results, performance or events to
differ materially from those expressed or implied in such statements. Actual
results, performance or events may differ materially from those in such
statements due to, without limitation: (1) changes in general economic
conditions, in particular economic conditions in NN Group's core markets, (2)
changes in performance of financial markets, including developing markets, (3)
consequences of a potential (partial) break-up of the euro, (4) changes in the
availability of, and costs associated with, sources of liquidity as well as
conditions in the credit markets generally, (5) the frequency and severity of
insured loss events, (6) changes affecting mortality and morbidity levels and
trends, (7) changes affecting persistency levels, (8) changes affecting interest
rate levels, (9) changes affecting currency exchange rates, (10) changes in
investor, customer and policyholder behaviour, (11) changes in general
competitive factors, (12) changes in laws and regulations, (13) changes in the
policies of governments and/or regulatory authorities, (14) conclusions with
regard to accounting assumptions and methodologies, (15) changes in ownership
that could affect the future availability to us of net operating loss, net
capital and built-in loss carry forwards, (16) changes in credit and financial
strength ratings, (17) NN Group's ability to achieve projected operational
synergies and (18) the other risks and uncertainties detailed in the Risk
Factors section contained in recent public disclosures made by NN Group.
Any forward-looking statements made by or on behalf of NN Group speak only as of
the date they are made, and, NN Group assumes no obligation to publicly update
or revise any forward-looking statements, whether as a result of new information
or for any other reason.
This document does not constitute an offer to sell, or a solicitation of an
offer to buy, any securities.
NN Group press release:
http://hugin.info/160538/R/2022295/751353.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: NN Group NV via GlobeNewswire
[HUG#2022295]
Unternehmensinformation / Kurzprofil:
Datum: 21.06.2016 - 21:06 Uhr
Sprache: Deutsch
News-ID 479248
Anzahl Zeichen: 6495
contact information:
Town:
Amsterdam
Kategorie:
Business News
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