Dividend for the fiscal year ended at 2016, November 30th -
Option of the dividend in shares
Neuilly-sur-Seine, May 11th, 2017
At the Annual General Meeting held today, Kaufman & Broad's shareholders approved the proposed €1.85 per share dividend for the financial year ended 30 November 2016 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 €30.13 per share. This issue price represents in accordance with the provisions of Article L. 232-19 of the French Commercial Code 90% of the average prices quoted of the Kaufman & Broad share 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 dividend, and rounded upward to the nearest euro cent.
The dividend ex-date is set on May 16, 2017. The shareholders may opt for the dividend payment in cash or in new shares from May 16, 2017 to May 26, 2017 included, by sending their request to their financial intermediaries. For the shareholders who have not exercised their dividend payment option by May 26, 2017, the dividend shall exclusively be paid in cash.
For the shareholders who have not opted for a dividend payment in shares, the dividend shall be paid in cash on June 2, 2017. For the shareholders who have opted to receive the dividend in shares, settlement and delivery of the shares will be as from June 2, 2017.
If the amount of dividends for which the option is exercised does not correspond to a whole number of shares, shareholders may choose to either receive the rounded-up whole number of shares by paying the difference in cash on the day they exercise the option or receive the rounded-down whole number of shares and the balance in cash.
The shares issued as dividend payment will carry dividend rights as from June 2, 2017. An application to list these new shares on Euronext Paris will be made. The new shares will rank pari passu with existing shares and will be fully fungible with existing shares already listed.
The maximum total number of new shares which may be issued for the purpose of the dividend payment in shares is 1,197,140 shares (excluding additional shares issued for rounding purposes), representing approximately 5.75% of the share capital and 5.10% of the voting rights of Kaufman & Broad based on the total number of shares and voting rights as of April 30, 2017
Following this transaction, and in order to keep the number of shares on a fully diluted basis unchanged, Kaufman & Broad will cancel as many treasury shares as it will have been created in connection with the payment of the dividend in shares.
Calendar:
| 15 May 2017 | Record date for the payment of the dividend |
| 16 May 2017 | Ex-date for the payment of the dividend and opening of the option period for the payment of the dividend in shares. |
| 26 May 2017 | Closing of the option period for the payment of the dividend in shares |
| 31 May 2017 | Announcement of the option's result |
| 2 June 2017 | Dividend payment in cash, settlement of the dividend in shares. |
This press release is available from the website www.kaufmanbroad.fr
- Next regular publication date :
- July 11th, 2017: S1-2017 results
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Contacts
| Chief Financial Officer Bruno Coche +33 1.41.43.44 73 Infos-invest@ketb.com | Press Relations |
| Camille Petit Burson-Marsteller +33 1.56 03 12 80 contact.presse@ketb.com |
About Kaufman & Broad - For nearly 50 years, Kaufman & Broad has been designing, developing, building and selling single-family homes in communities, apartments, and offices on behalf of third parties. Its size and profitability, combined with its strong brand name, have made Kaufman & Broad one of France's leading developer-homebuilders.
Disclaimer
This press release constitutes the information document required pursuant to Article 212-4 4° and 212-5 5° of the French Financial Market Authority (AMF) General Regulation and Article 18 and Annex III of the AMF Instruction n° 2016-04 of 21 October 2016.
This press release does not constitute an offer to purchase securities. This press release and any other document relating to the payment of dividend in shares may only be distributed or disseminated 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 infringe applicable laws and regulations.
The option to receive the dividend for the financial year ended 30 November 2016 payment in shares, as described herein, is not available to shareholders residing in any country where such option would require registration or approval by local securities regulators. Shareholders residing outside of France must inform themselves about, and comply with, any restrictions which may apply under their local laws.
For tax purposes in relation to the dividend payment in shares, the shareholders are invited to review their personal situation with their own tax advisor.
In making the election to receive the dividend payment in shares, shareholders should take into consideration the risks associated with an investment in shares, including those described in chapter 1.2 of the registration document filed with the AMF under number 17 -086 dated March 31, 2017.
