Jetpak Board withdraws its dividend proposal due to the impact of the coronavirus outbreak
As a consequence of the current uncertainty due to the global outbreak of the new coronavirus (Covid-19), the Board of Directors of Jetpak Top Holding AB (publ.) has resolved to withdraw its dividend proposal before the Annual Shareholders’ Meeting 2020.
As a result of the global outbreak of the new coronavirus (Covid-19), and an increasing number of countries closing their borders, negative effects on the world economy are expected. The spread of Covid-19 impacts Jetpak’s markets. Jetpak therefore estimates that the demand for its services during 2020 will be negatively affected due to the uncertain situation and expected challenging market conditions.
Currently it is not possible to quantify the financial effects thereof, given the exceptional and uncertain market conditions. It is the Board’s assessment that the previously communicated dividend proposal (SEK 4 per share) under the prevailing circumstances is no longer justifiable as the company and the group may need increased financial preparedness going forward. The Board has therefore decided to withdraw its dividend proposal. If market conditions stabilize during the year and that the company's financial position allows, the Board may later in the year convene an extraordinary shareholders´ meeting in order to decide on a dividend.
The information was submitted for publication, through the contact person mentioned below, on 27 March 2020 at 18:00 CET. This constitutes information that Jetpak Top Holding AB (publ.) is required to publish under the EU Market Abuse Regulation.
For more information, please contact:
Kenneth Marx, CEO Jetpak, +46 (0) 73 368 54 00, ir@jetpak.com
About Jetpak:
Jetpak is the simple and fastest option for prioritized door-to-door deliveries. We offer solutions for both spontaneous transport needs and customized logistics. Jetpak primarily operates in the “courier, express, and parcel” market (the so-called CEP market), and the company’s operations are mainly divided into an Express Ad-hoc and Express Systemized segment. Jetpak is represented in more than 170 locations around the Nordic region and Europe. Jetpak has a unique and flexible customer offering based on the availability of approximately 4,000 departures daily and an extensive distribution network with approximately 700 courier vehicles. This is something that enables us to offer the market to deliver the fastest and most comprehensive same-day service. This can be further supplemented with a unique tailor-made next-day service for system-based transports. Your delivery is our priority. We are Jetpak – simple, fastest & most precise. Jetpak Top Holding AB is listed on the Nasdaq First North Premier Growth Market. The share is traded with the ISIN code SE0012012508 and under the short name JETPAK.
The company’s certified advisor is FNCA Sweden AB, e-mail: info@fnca.se, phone: +46 8 528 003 99.
For more information, please visit: www.jetpakgroup.com