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Dividend Announcements/Distribution
Vienna – STRABAG SE hereby informs that the technical procedure for the planned dividend payment for the 2017 financial year will deviate from the procedure of previous years.
The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) on 6 April 2018 designated various persons, as well as companies that especially are at least 50 % owned directly or indirectly by these persons, as so-called Specially Designated Nationals (SDN) and imposed economic sanctions on them. The payment of dividends to SDNs would subject STRABAG SE to the risk of being classified as SDN by OFAC and of having sanctions imposed on it.
Provided that the Annual General Meeting approves the dividend payment as proposed by the Management Board and the Supervisory Board for the 2017 financial year, the Management Board is obliged to protect the company from the risk of sanctions due to the dividend payment. The Management Board therefore decided today not to pay out the dividend for the 2017 financial year as previously via OeKB CSD GmbH but instead by way of a direct settlement between the company and the shareholders. The dividend payment procedure after the Annual General Meeting will therefore be handled with the support of Raiffeisen Centrobank AG (RCB) as paying agent. The payment will be procured under certain conditions designed to ensure that no dividends are paid to the shareholder Rasperia Trading Limited (Rasperia) as the information available to STRABAG SE leads to the conclusion that this company is a SDN.
The dividends will be paid specifically as follows: On 26 June 2018, being the trading day after the record date, a value right (Wertrecht) will be credited to the respective account automatically for each bearer share with the respective shareholder’s custodian bank certifying the claim to receive the dividend for the 2017 financial year. The value right entitles the shareholder from 26 June 2018 to receive the dividend under the condition of reciprocal and simultaneous transfer of the value right to RCB. The acceptance of the value right by RCB as well as the payment of the dividend will occur against presentation of confirmation of the respective custodian bank to RCB representing that the respective value rights were not held by Rasperia per 26 June 2018 nor on the day of redemption. The value rights can be submitted to RCB by the custodian banks until 28 June 2021, 5:00 p.m. Vienna time to receive the dividend, with payment of the dividend made without interest in every case. Dividends not claimed by the aforementioned date will lapse to the company’s favour.
The details of the aforementioned payment conditions will also be published separately in the dividend announcement. STRABAG SE will commit to grant the custodian banks a remuneration of expenses in the amount of EUR 8,- per deposit account.
The custodian banks will be provided a form for the receipt of dividends that will be available for download on the website of STRABAG SE from the day of the Annual General Meeting. It is nevertheless recommended that the shareholders clarify the exact procedure on the basis of the deposit agreement concluded between the respective shareholder and the custodian bank.
This procedure ensures that STRABAG SE is not subjected to the risk of sanctions and that all shareholders not affected by the sanctions as well as their custodian banks can effectuate the payment of the dividends with as little extra effort and expense as possible.
end of announcement euro adhoc
Attachments with Announcement:
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http://resources.euroadhoc.com/documents/2246/5/10166829/1/STRABAG_SE_Dividende_Abwiclung_E_Jun2018.pdf
issuer: STRABAG SE
Donau-City-Straße 9
A-1220 Wien
phone: +43 1 22422 -0
FAX: +43 1 22422 – 1177
mail: investor.relations@strabag.com
WWW: www.strabag.com
ISIN: AT000000STR1, AT0000A05HY9
indexes: SATX, WBI, ATX
stockmarkets: Wien
language: English
Digital press kit: http://www.ots.at/pressemappe/4106/aom
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