Brief: Grammer To Propose Not To Pay Out Dividend For FY 2019
04/06/2020 11:18
June 4 (Reuters) - GRAMMER AG GMMG.DE :
* GRAMMER AG IS IN ADVANCED TALKS CONCERNING THE INCREASE OF
THE
EXISTING SYNDICATED LOAN, SUSPENDING THE DIVIDEND AND PLANNING A
CAPITAL INCREASE
* CURRENTLY IN ADVANCED TALKS WITH ITS SYNDICATE BANKS
CONCERNING
A THIRD TRANCHE OF EXISTING SYNDICATED LOAN
* ADDITIONAL CREDIT LINE IS EXPECTED TO AMOUNT TO EUR 235
MILLION
AND WILL SERVE TO BRIDGE CURRENT EXCEPTIONAL ECONOMIC SITUATION
* TODAY ADOPTED A RESOLUTION TO REVOKE DIVIDEND PROPOSAL OF
EUR
0.11 PER SHARE PUBLISHED ON MARCH 30, 2020
* TO PROPOSE TO ANNUAL GENERAL MEETING NOT TO PAY OUT A
DIVIDEND
FOR FINANCIAL YEAR 2019
* DIVIDEND WILL BE SUSPENDED DURING THREE-YEAR TERM OF NEW
TRANCHE
* PLANS TO STRENGTHEN ITS EQUITY BY AT LEAST EUR 40
* IN ADDITION, GRAMMER AG PLANS TO STRENGTHEN ITS EQUITY BY
AT
LEAST EUR 40 MILLION. TO THIS END, A CAPITAL INCREASE INCLUDING
SHAREHOLDER SUBSCRIPTION RIGHTS IS TO BE EXECUTED IN SECOND HALF
OF 2020
Source text for Eikon: ID:nEQ6krCq8a
Further company coverage: GMMG.DE
(Gdansk Newsroom)
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