Brief: North Media Suspends Financial Guidance For 2020 And Distribution Of Dividends For 2019

North Media A/S

18/03/2020 14:58

March 18 (Reuters) - North Media A/S  NORTHM.CO :
    * REG-NORTH MEDIA A/S SUSPENDS FINANCIAL GUIDANCE FOR 2020
AND
DISTRIBUTION OF DIVIDENDS FOR 2019
    * DUE TO PLUNGE IN DANISH AND US EQUITY MARKETS, GROUP HAD
INCURRED AN UNREALISED CAPITAL LOSS OF ABOUT DKK 72 MILLION AT
17 MARCH 2020 ON PROPORTION OF GROUP'S CAPITAL RESOURCES THAT IS
INVESTED IN SHARES
    * CURRENT VALUE OF SECURITIES PORTFOLIO IS ABOUT DKK 328
MILLION
    * GROUP'S REVENUE AND PROFIT FOR 2020 ARE EXPECTED TO FALL
SHORT
OF ORIGINAL GUIDANCE
    * BOARD OF DIRECTORS NOW RECOMMENDS TO ANNUAL GENERAL
MEETING TO
BE HELD ON 27 MARCH 2020 THAT NO DIVIDEND BE DISTRIBUTED IN
RESPECT OF 2019 FINANCIAL YEAR
    * BOARD OF DIRECTORS AIMS TO EXERCISE ITS RIGHT TO
DISTRIBUTE
EXTRAORDINARY DIVIDENDS IN 2020
    * EXTRAORDINARY DISTRIBUTION AND LEVEL OF DIVIDEND
DISTRIBUTED, IF
ANY, WILL DEPEND ON GROUP'S EARNINGS AND EXPECTATIONS IN LIGHT
OF CORONA PANDEMIC

Source text for Eikon:  ID:nGNEbskQmW 
Further company coverage:  NORTHM.CO 

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