Pre-acceptance for possible payment of dividend for fiscal year 2010
As part of the loan agreement established in connection with the refinancing process in the 1st quarter of 2009, it was agreed that any dividend proposals in the loan period could only be made if pre-accepted by the lender. The loan period extends to January 2012.
The lender has now accepted that up to 50% of the Group's net profit for 2010 could be paid as dividend in 2011.
The Board of BWG Homes ASA will, when reviewing the annual accounts for 2010, decide whether to propose to the General Meeting to pay dividend and the amount of such. Any proposal from the Board will also be reflected in the Q4 2010 report, which will be published on 15 February 2011.
Lars Nilsen, CEO, BWG Homes ASA, tel: +47 23 24 60 00,
Arnt Eriksen, CFO, BWG Homes ASA, tel: +47 23 24 60 37, +47 922 14 625.
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)