Technip: Results of the option to receive the dividend payment for financial year 2015 in share
By Business Wire News
By Business Wire News
Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) announces that the shareholders who have elected to receive the payment of the dividend for financial year 2015 in shares represented 57.3% of Technip’s shares.
At the Annual General Meeting held on April 28, 2016, Technip’s shareholders approved the proposed €2.00 per share dividend for the 2015 financial year and decided to offer shareholders an option to receive the dividend payment in shares. The issue price of the new shares to be issued in consideration for the dividend has been set at €42.87. The price is equal to 90% of the average opening prices quoted on the regulated market of Euronext Paris during the 20 trading days preceding the date of the Annual General Meeting, less the amount of the proposed dividend, and rounded upward to the nearest euro cent.
For the purpose of the payment of the dividend in shares, 3,168,156 new shares will be issued, representing approximately 2.7% of the share capital and 2.4% of the voting rights of Technip based on the total number of shares and voting rights as of April 30, 2016.
The settlement and delivery of the shares issued as dividend payment will occur on May 26, 2016 and such new shares will be admitted to trading on Euronext Paris on the same day. The shares will carry dividend rights as from January 1, 2016. The new shares will rank pari passu with existing shares and will be fully fungible with existing shares already listed.
For the shareholders who did not opted for a dividend payment in shares, the dividend shall be paid in cash on May 26, 2016.
In line with its stated policy, Technip intends to neutralize the dilution created by the scrip dividend, including through its share repurchase program.
This press release, along with the press release dated April 29, 2016, constitute the information document required pursuant to Articles 212-4 4° and 212-5 5° of the French Financial Markets Authority (AMF) General Regulations as well as Article 13 and Annex III of the AMF Instruction No. 2005-11 of December 13, 2005, as amended.
This press release does not constitute an offer of securities. This press release and any other document relating to the payment of dividends in shares may only be published outside of France in conformity with applicable local laws and regulations and shall not constitute an offer for securities in any jurisdiction where such an offer would violate applicable local laws.
Technip is a world leader in project management, engineering and construction for the energy industry. From the deepest Subsea oil & gas developments to the largest and most complex Offshore and Onshore infrastructures, our 32,500 people are constantly offering the best solutions and most innovative technologies to meet the world’s energy challenges. Present in 45 countries, Technip has state-of-the-art industrial assets on all continents and operates a fleet of specialized vessels for pipeline installation and subsea construction.
Technip shares are listed on the Euronext Paris exchange and traded in the USA on the OTCQX marketplace (OTCQX: TKPPY) as American Depositary Receipts.
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