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At the Annual General Meeting of Swiss interdealer broker Compagnie Financiere Tradition SA (SWX:CFT) held on May 22, 2015, shareholders approved, in addition to the company’s and group’s annual accounts, a dividend of CHF 3.00 per bearer share of Compagnie Financière Tradition SA with a nominal value of CHF 2.50 each.
The dividend will be made against free reserves and shares will be traded ex-dividend as of May 27, 2015.
The AGM decided that each shareholder can elect to receive the dividend in cash or in new shares, in accordance with and subject to the board proposal published in the Swiss Official Gazette of Commerce on April 30, 2015.
The election period runs from May 27, 2015 to June 3, 2015 (noon CEST). The issue price of the new shares is set at CHF 57, and 19 Number 17 coupons will therefore be required to obtain one new share.
To enable payment of the dividend to shareholders who elect to receive new shares, the shareholders at the annual general meeting voted to increase the existing share capital by a maximum of CHF 1,125,000,00, through the issuance of a maximum of 450,000 shares, up to a maximum of CHF 17,930,277.50.
Compagnie Financière Tradition has confirmed that the shares will be fully paid up by conversion of the company’s available equity, and will carry dividend rights from the 2015 financial year.
The issue prospectus, within the meaning of Section 652a of the Swiss Code of Obligations, will be published in the Swiss Official Gazette of Commerce on May 27, 2015.
For the official announcement from Tradition, click here.