NEPI Rockcastle: Shareholder Triumph in Dividend Choices

  • Shareholder Choices: NEPI Rockcastle N.V. shareholders opted for a scrip issue (74.3%), cash dividend (4.3%), and default capital repayment (21.4%).
  • Scrip Issue Impact: 24,995,752 new shares issued, strengthening the company's market presence and providing broader ownership base.
  • Effective Changes: Share capital increase and reduction adjustments effective from October 4, 2023, benefiting shareholders promptly.
NEPI Rockcastle

NEPI Rockcastle N.V. disclosed the results of its dividend election today, bringing significant developments for its shareholders. In an announcement made on October 3, 2023, the company revealed that shareholders had made their choices regarding the interim dividend for the six months ending June 30, 2023, which stood at 25.67 euro cents per share.

Shareholder Choices and Outcome

Shareholders were presented with three options:

  1. Scrip Issue: A whopping 74.3% of shareholders, represented by 472,272,517 shares, opted for the scrip issue, choosing to receive 27.10 euro cents per share through the issuance of new shares. This choice reflects the shareholders’ confidence in the company’s growth prospects.
  2. Cash Dividend: A modest 4.3% of shareholders, totaling 27,174,378 shares, elected to receive the dividend in cash, indicating a preference for immediate liquidity.
  3. Capital Repayment (Default): Representing 21.4% of shareholders, 136,383,373 shares were designated for the default option of a capital repayment.

The company confirmed that 24,995,752 new NEPI Rockcastle shares would be issued on the market, with these shares being credited as fully paid, ranking pari passu with existing shares, and being fully fungible. This move marks a strategic decision to strengthen the company’s market position and boost investor confidence.

Implications and Adjustments

As a result of the scrip issue, the total issued share capital of NEPI Rockcastle N.V. will increase to 660,826,020 ordinary shares, each having a par value of €0.01. This increase in shares will come into effect from Friday, October 6, 2023, providing a broader ownership base for the company.

In alignment with the capital repayment option, adjustments will be made to reflect the increase and subsequent reduction of the nominal value of each NEPI Rockcastle ordinary share. These adjustments, executed through amendments to the company’s articles of association, will be effective from Wednesday, October 4, 2023.

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