Friday 28 June 2024, 19:15
Hydratec Industries announces Interim Dividend
AMERSFOORT – Today, the Offer Memorandum and Position Statement have been published regarding the recommended public option Offer (to be paid in cash or unlisted shares in the Offeror) by Ten Cate Investeringsmaatschappij on all shares of Hydratec Industries. The Board of Directors of Hydratec, after approval by the Supervisory Board, has decided to distribute an interim dividend of €6 per share. Since the Offer is cum dividend, this distributed interim dividend will be deducted from the Cash Offer Price of €142.50. Therefore, the remaining payment for a shareholder under the Cash Offer Price, upon the Offer being declared unconditional, will be €136.50 per share.
Dividend
The Board of Directors of Hydratec has received feedback from several (minority) shareholders expressing a preference for an interim dividend due to the processing time of the Offer. Hydratec Industries wishes to honor this request. Therefore, a dividend of €6 per share has been decided. The Cash Offer Price under the Offer is €142.50 cum dividend. This means that a shareholder will receive a remaining cash payment of €136.50 per share under the Cash Offer Price if the Offer is declared unconditional.
The relevant dates for the dividend distribution are as follows:
- July 3: ex-dividend date
- July 4: dividend record date
- July 8: dividend payment date
Reappointment of CEO
The Supervisory Board has reappointed Mr. Bart Aangenendt as CEO of Hydratec Industries for a new term of four years.
Half-Year Results
Due to the volume of activities related to the Offer, the publication of the half-year results has been postponed to August 12, 2024. This is prior to the extraordinary general meeting of shareholders regarding the Offer, scheduled for August 14, 2024.
Hydratec Industries N.V. is listed on Euronext Amsterdam (ISIN NL0009391242, ticker: HYDRA).
Definitions not defined in this press release have the meaning given to them in the Offer Memorandum published today by Hydra Invest B.V. (the "Offeror").
