CECONOMY AG CECONOMY AG: Renewed resolution of a General Meeting regarding the transaction with Convergenta Invest GmbH and proposed dividend distribution in the amount of approximately EUR 63 million

Transparency directive : regulatory news

05/11/2021 17:07

DGAP-Ad-hoc: CECONOMY AG / Key word(s): Mergers & Acquisitions/Payout
CECONOMY AG: Renewed resolution of a General Meeting regarding the transaction with Convergenta Invest GmbH and proposed dividend distribution in the amount of approximately EUR 63 million

05-Nov-2021 / 17:07 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The Dusseldorf Higher Regional Court on July 8, 2021 expressed its preliminary legal views in the clearance proceedings regarding agenda item 8 of the Annual General Meeting of CECONOMY AG on February 17, 2021.

The resolution of the General Meeting under agenda item 8 served to implement the acquisition, transfer and contribution of the stake in Media-Saturn-Holding GmbH held by Convergenta Invest GmbH and specifically included the adoption of a resolution on (i) the increase of the CECONOMY AG share capital through a mixed contribution in kind under exclusion of the statutory subscription rights of the shareholders, (ii) the issue of convertible bonds against a mixed contribution in kind under exclusion of the statutory subscription rights of the shareholders and the creation of a new Contingent Capital 2021/I and (iii) the relevant changes to the Articles of Association.

Against the background of the preliminary legal views of the Dusseldorf Higher Regional Court, expressed on July 8, 2021, CECONOMY AG will again submit the transaction to the Annual General Meeting for resolution. This is to take place in an extraordinary general meeting, subject to the proviso that the ordinary general meeting 2022 resolves a dividend distribution in the amount of approximately EUR 63 million. This dividend distribution will (i) satisfy the dividend entitlement of holders of preference shares for the financial year ending 30 September 2021 as well as all claims for preference dividends to be paid in arrears and (ii) pay a dividend of EUR 0.17 per share to the ordinary shareholders. The proposed dividend payment is in line with CECONOMY AG's dividend policy, which states inter alia that the payment of dividends must be weighed against the necessity of investments for the growth of the operating business. This has been done for the past financial year 2020/21. In consequence, neither the amount of the EPS in financial year 2020/21 nor a commitment for future dividend payments can be derived from this.

In addition, CECONOMY AG is evaluating the conversion of the current preference shares of CECONOMY AG into ordinary shares of CECONOMY AG.

CECONOMY AG aims to complete the transaction in the current financial year 2021/22 if possible.

Person making the notification: Sebastian Kauffmann, Vice President Investor Relations, CECONOMY AG.

05-Nov-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:	English
Company:	CECONOMY AG
	Kaistr. 3
	40221 Düsseldorf
	Germany
Phone:	+49 (0)211 5408-7222
Fax:	+49 (0)211 5408-7005
E-mail:	sebastian.kauffmann@ceconomy.de
Internet:	www.ceconomy.de
ISIN:	DE0007257503, DE0007257537, Weitere: www.ceconomy.de/de/investor-relations/
WKN:	725750, 725753, Weitere: www.ceconomy.de/de/investor-relations/
Indices:	SDAX
Listed:	Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID:	1246722


End of Announcement	DGAP News Service

1246722 05-Nov-2021 CET/CEST

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CECONOMY AG CECONOMY AG: Renewed resolution of a General Meeting regarding the transaction with Convergenta Invest GmbH and proposed dividend distribution in the amount of approximately EUR 63 million

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