Citycon Board’s asset distribution proposal to the Annual General Meeting
CITYCON OYJ Stock Exchange Release 7 February 2019 at 09:00 hrs
The Board of Directors of Citycon Oyj has decided to propose to the Annual General Meeting to be held on 13 March 2019 of the asset distribution as follows.
The Board of Directors proposes that based on the balance sheet to be adopted for the financial period ended on 31 December 2018, no dividend is distributed by a resolution of the Annual General Meeting.
Nonetheless, the Board of Directors proposes that the Board of Directors be authorized to decide in its discretion on the distribution of dividend and assets from the invested unrestricted equity fund in the manner set forth below.
Based on this authorization, the maximum amount of dividend to be distributed shall not exceed EUR 0.01 per share and the maximum amount of equity repayment distributed from the invested unrestricted equity fund shall not exceed EUR 0.12 per share. Based on the authorization, the company could distribute a maximum of EUR 8,899,926.28 as dividends and EUR 106,799,115.36 as equity repayment.
The authorization is valid until the opening of the next Annual General Meeting.
Unless the Board of Directors decides otherwise for a justified reason, the authorization will be used to distribute dividend and/or equity repayment four times during the period of validity of the authorization. In this case, the Board of Directors will make separate resolutions on each distribution of the dividend and/or equity repayment so that the preliminary record and payment dates will be as stated below. Citycon shall make separate announcements of such Board resolutions.
Preliminary payment date Preliminary record date
29 March 2019 15 March 2019
28 June 2019 21 June 2019
30 September 2019 23 September 2019
30 December 2019 19 December 2019
The dividend and/or equity repayment based on the resolution of the Board of Directors will be paid to a shareholder registered in the company’s shareholders’ register maintained by Euroclear Finland Ltd on the record date of the dividend and/or equity repayment.
Citycon publishes the notice to the Annual General Meeting as a stock exchange release and on the company's website separately.
Espoo, 6 February 2019
Board of Directors
For further information, please contact:
General Counsel and Head of Legal Affairs
Tel. +358 50 414 3280
Executive VP and CFO
Tel. +358 50 557 9137
Citycon is a leading owner, manager and developer of urban, grocery-anchored shopping centres in the Nordic region, managing assets that total approximately EUR 4.5 billion. Citycon is No. 1 shopping centre owner in Finland and among the market leaders in Norway, Sweden and Estonia. Citycon has also established a foothold in Denmark.
Citycon has investment-grade credit ratings from Moody's (Baa2) and Standard & Poor's (BBB). Citycon Oyj’s share is listed in Nasdaq Helsinki.