Nordic Waterproofing’s Board of Directors withdraws its dividend proposal, proposes that the BoD is authorised to decide on the distribution of dividends at a later date and a new date set for the AGM
The Board of Directors of Nordic Waterproofing has decided to withdraw the dividend proposal, which is stated in the 2019 Annual Report published on 2 April 2020, and instead propose that the Annual General Meeting authorises the Board of Directors to, during the period until the Annual General Meeting in 2021, decide to distribute up to SEK 107 million, corresponding to SEK 4.50 per share. Furthermore, the Board of Directors has decided that the Annual General Meeting is to be held on Monday 15 June 2020 in Helsingborg.
“Our decision to postpone the Annual General Meeting was the result of an overall assessment of the situation at that time. There is still uncertainty about the development of the overall economic situation, but we now believe we have enough information to host the Annual General Meeting. Regarding the Board’s dividend proposal, we ask the Annual General Meeting to authorise the Board of Directors to distribute extraordinary dividends in the period until the Annual General Meeting in 2021 in order to let the Board of Directors further evaluate the impact on Nordic Waterproofing from the Covid-19 pandemic before making that decision.” says Ulf Gundemark, Chairman of the Board of Directors.
Nordic Waterproofing has a continued strong financial position with a solid balance sheet following strong results and cashflows from previous years. The Board’s dividend proposal for 2019 was motivated by the company’s strong capital position as well as a solid financial result in 2019 but, given the uncertainty of the overall economic situation, it is today difficult to assess the impact on our business. Therefore, the Board of Nordic Waterproofing has withdrawn its previous dividend proposal and instead proposed that the Annual General Meeting authorise the Board to decide on the distribution of dividends at a later stage when the overall economic development and the impact on Nordic Waterproofing’s businesses have been further analysed.
Nordic Waterproofing’s Annual General Meeting will be held on Monday 15 June 2020 in Helsingborg. Time and venue for the Annual General Meeting are to be decided. Invitation to the Annual General Meeting and revised Annual Report for 2019 will be sent out no later than 22 May 2020.
This information is such that Nordic Waterproofing Holding A/S is obliged to make it public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, on May 3, 2020, at 11.15 pm CEST.
For further information, please contact:
Per-Olof Schrewelius, CFO and investor relations
Telephone: +46 707 82 79 58
E-mail: pos@nordicwaterproofing.com
Nordic Waterproofing is one of the leading providers in the waterproofing market in northern Europe. The Company provides high-quality products and solutions for waterproofing in Sweden, Finland, Denmark, Norway, Belgium, the Netherlands, Poland, the United Kingdom and Germany. Nordic Waterproofing also provides installation services through wholly-owned subsidiaries In Finland and through part-owned franchise companies in Denmark. The Company markets its products and solutions under more than ten brands, all with an extensive heritage, most of which are among the most established and well-recognized brands in waterproofing in their respective markets, such as Mataki, Trebolit, Phønix Tag Materialer, Kerabit, Nortett, SealEco, Distri Pond, SPT-Painting, Taasinge Elementer, RVT and Veg Tech. Nordic Waterproofing is listed in the Mid Cap segment on Nasdaq Stockholm with the stock ticker NWG.