Brief: Nederman Board Withdraws Its Dividend Proposal Due To Market Uncertainties

Nederman Holding AB

20/03/2020 16:16

March 20 (Reuters) - Nederman Holding AB  NMAN.ST :
    * NEDERMAN BOARD WITHDRAWS ITS DIVIDEND PROPOSAL DUE TO
MARKET
UNCERTAINTIES
    * NEDERMAN SAYS GIVEN GROWING UNCERTAINTY AROUND WORLD DUE
TO
SPREAD OF COVID-19 CORONAVIRUS, AND EXTRAORDINARY GOVERNMENT
ACTIONS BEING TAKEN TO LIMIT SPREAD OF VIRUS, BUSINESS ACTIVITY
IN MANY MARKETS IN WHICH NEDERMAN OPERATES IS BEING IMPACTED
SIGNIFICANTLY.
    * NEDERMAN SAYS IS ALREADY EXPERIENCING DIFFICULTIES IN
DELIVERIES
OF GOODS AND SOME CUSTOMERS HAVE CLOSED SITES WHICH IS CAUSING
DELAYS IN PROJECT EXECUTION.DUE TO RAPIDLY CHANGING SITUATION,
IT IS TOO EARLY TO QUANTIFY POTENTIAL IMPACT ON NEDERMAN'S
RESULT FOR YEAR.
    * NEDERMAN SAYS GIVEN THIS UNCERTAINTY, BOARD DOES NOT
CONSIDER IT
PRUDENT TO CONTINUE WITH PREVIOUSLY ANNOUNCED DIVIDEND PROPOSAL
AT THIS TIME. IT IS INSTEAD INTENTION OF BOARD TO REVIEW
DIVIDEND SITUATION AGAIN LATER THIS YEAR WHEN ECONOMIC IMPACT OF
COVID-19 OUTBREAK SHOULD BE MUCH CLEARER.

Source text for Eikon:  ID:nWkr3KSLJb 
Further company coverage:  NMAN.ST 

 (Reporting By Johan Ahlander)
 ((johan.ahlander@thomsonreuters.com;))