Breukelen, the Netherlands – March 28, 2023 at 8 AM CET – TIE Kinetix, a leader in 100% supply chain digitalization, announces the timeline and procedures related to the distribution of its 2023 interim dividend.
During the Annual General Meeting, held on 24 March 2023, the Company’s shareholders approved the distribution of an interim dividend for the financial year 2023 from the Company’s equity reserves, in the amount of € 0.50 per share. With this second consecutive dividend in the Company’s history, TIE Kinetix paves the way for execution of its dividend policy. The company strives for a stable dividend policy, under which we aim to pay yearly an amount of € 0.50 dividend per share, independent of currency fluctuations. The policy takes into consideration the characteristics of our business, our expectations for future cash flows and our plans for organic revenue growth. We balance these factors with the objective of maintaining a strong balance sheet position. Shareholders shall have the choice between a cash dividend or a stock dividend in the form of ordinary shares in the Company. The ex-dividend date is 6 April 2023. Dividend is owed to all holders of ordinary shares after market close on the preceding day. The date of record is 11 April 2023, during which all shareholders of the Company shall be identified.
Shareholders can indicate their choice of either cash or shares to their bank during the election period as indicated in the schedule below. Shareholders that do not make an election for either option before the end of the election period will receive a stock dividend. Dividends in cash shall be distributed after deduction of dividend withholding taxes of 15%.
The conversion ratio for the distribution of the stock dividend shall be communicated by the Company on 26 April 2023, after close of trading on the respective day. The conversion ratio shall be determined based on the weighted average share price on trading days 20 April 21 April, 24 April, and 25 April 2023. A new share shall be issued to a shareholder for every certain number of shares that that shareholder held on the ex-dividend date, in accordance with this conversion ratio. Only whole shares are issued. For any remaining shares that are held by a shareholder for which no full share can be issued (fractions), dividends shall be paid in cash (net of dividend withholding taxes).
Cash dividends shall be paid on, and issuance of new shares shall commence on 2 May 2023. Any new shares issued shall carry the same rights as existing shares and shall therefore be eligible for future dividends. Shares shall be emitted without issuance of a prospectus based on the exemption of Article 1, paragraph 4, sub h of the EU Prospectus Directive.
|Annual General Meeting||24 March 2023|
|Press Release Annual General Meeting||28 March 2023|
|Ex-Dividend Date||6 April 2023|
|Record Date||11 April 2023|
|Dividend Election Period||12 April – 25 April 2023|
|Publication of Conversion Ratio||26 April 2023|
|Date of Payment/Issue of Shares||2 May 2023|
Cautionary statement regarding forward-looking information
This document may contain expectations about the financial state of affairs and results of the activities of TIE Kinetix as well as certain related plans and objectives, and may be expressed in a variety of ways, such as ‘expects’, ‘projects’, ‘anticipates’, ‘intends’ or similar words. TIE Kinetix has based these forward-looking statements on its current expectations and projections about future events. Such expectations for the future are naturally associated with risks and uncertainties because they relate to future events, and as such depend on certain circumstances that may not arise in future. Various factors may cause real results and developments to deviate considerably from explicitly or implicitly made statements about future expectations. Such factors may for instance be changes in expenditure by companies in important markets, in statutory changes and changes in financial markets, in the salary levels of employees, in future borrowing costs, in future take-overs or divestitures and the pace of technological developments. TIE Kinetix therefore cannot guarantee that the expectations will be realized. TIE Kinetix also refuses to accept any obligation to update statements made in this document.
About TIE Kinetix
At TIE Kinetix, we help companies of all sizes achieve their digitalization goals. From 1% to 100% or anywhere in between, our cloud-native FLOW Partner Automation platform is designed to completely eliminate paper from the supply chain, enabling our customers to focus on three corporate initiatives that drive true organizational change: business process efficiency, compliance, and corporate social responsibility (CSR).
We believe that digitalization (not digitization) is the future. We believe in conscious development, and we believe in moving ourselves and our customers forward. More than 2,500 companies have chosen TIE Kinetix to support their EDI, e-invoicing, and general digitalization projects, and we proudly facilitate the exchange of over 81 million documents through FLOW each year—the equivalent of 10,000 trees saved.
Founded in 1987, TIE Kinetix is a public company (Euronext: TIE) with offices in the Netherlands (HQ), France, Germany, Australia, and the United States. For more information, please visit www.TIEKinetix.com, and follow us on Linkedin, Twitter, Facebook, and YouTube.
Contact us for more information:
TIE Kinetix N.V.
Michiel Wolfswinkel (CFO)
De Corridor 5d
3621 ZA Breukelen
T: +31 (0) 88 3698060