Altri is starting Wednesday to compensate shareholders and on Tuesday it corrected the amount it will pay in cash.
The company will deliver 43.27% of the capital it holds directly in GreenVolt, totaling 52,523,229 shares, and will also pay a cash dividend of €0.24 total per share.
For payment in kind, using GreenVolt Shares, the factor 0.25604641 (of the share capital of Altri held by each shareholder on May 18th – registration date) will be used to obtain the number of shares each Altri shareholder is entitled to.
Assuming the investor has 100 shares, he or she will receive 25, which results from rounding 25.604641 to the lowest whole number.
The total cash and in-kind rewards cannot exceed the value of the full profit and the free reserves of Altri, up to the value of €112,748,942, so the cash dividend can be less than the suggested value. This is what happened.
Altri has proposed a cash dividend of up to 25 cents per share, after it said it would disclose on May 24 the new amount of total dividend per share, if possible. That’s what I did today.
“Distributions have been reduced in the amount corresponding to the surplus, rounded to the lowest, compared to the previous amount, given that the distributable funds corresponding to the in-kind distribution exceeded the amount of 112.748.942 euros, as approved by the general meeting, ”confirmed in the statement issued to CMVM.
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