Altri begins paying shareholder compensation on Wednesday and made adjustments on Tuesday to the amount it will pay out in cash.
The company will transfer 43.27% of the capital it owns directly to GreenVolt, for a total of 52,523,229 shares, and will also pay a cash dividend of €0.24 gross per share.
When paying in kind with GreenVolt shares, a factor of 0.25604641 (of the Altri share capital held by each shareholder as of May 18 – date of incorporation) will be used to arrive at the number of shares each Altri shareholder is entitled to.
Assuming the investor has 100 shares, he will receive 25 bonds, which is the result of rounding 25.604641 to the nearest whole number.
The total cash and in-kind consideration can never exceed the value of all profits and Altri’s free reserves, up to EUR 112,748,942, so the cash dividend may be lower than that offered. And so it happened.
Altri has offered a cash dividend of up to 25 cents per share, saying it will disclose a new gross dividend per share amount on May 24, if applicable. This is what you did today.
“The value of the cash dividend has been reduced by the amount corresponding to the surplus, rounded down from the previously reported amount, given that the funds to be distributed, corresponding to the in-kind distribution, exceeded the amount of EUR 112,748,942, as approved by the General Meeting ”, underlined in a statement published in CMVM.
