Bravida's Board of Directors reintroduces previously withdrawn proposal for dividend and intends to convene an Extraordinary General Meeting
On April 8, 2020, Bravida's Board of Directors decided to withdraw its proposal to the Annual General Meeting to decide on a dividend of SEK 2.25 per share due to uncertainties in the market linked to the Covid-19 pandemic. In connection with the withdrawal, the Board stated that the Board's ambition was to convene an Extraordinary General Meeting in the autumn of 2020 and propose, if external factors allowed, the dividend again.
The Board has now evaluated Bravida's development in recent months, including the company's financial results and the general market outlook, with the conclusion that Bravida's financial position remains strong. The Board has therefore decided to reintroduce the previously withdrawn proposal for a dividend of SEK 2.25 per share and to convene an Extraordinary General Meeting which is expected to be held at the end of October 2020 to decide on the dividend. In connection with this Extraordinary General Meeting, the Board will also propose that the Meeting resolves to adopt the long-term incentive program (LTIP 2020) which was withdrawn in April 2020 for the same reasons as the dividend.
In connection with an established dividend Bravida will repay the governmental grants that Bravida received in Sweden related to the Covid-19 pandemic. This will have a negative effect on earnings for 2020 of approximately SEK 8 million.
Mattias Johansson, President and CEO of Bravida says:
- We have had a strong cash flow for a long time and we have a solid order backlog. This, together with the fact that our business consists of both service and installation, gives Bravida a stable financial position.
More information about the Extraordinary General Meeting will be provided shortly in a separate notice to the Meeting.
For further information, please contact:
Åsa Neving, CFO. Tel: +46 8 695 22 87
Morten Reedtz Kjellev, Head of Communications. Tel: + 46 72 226 37 79
This information is information that Bravida Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 08:30 CET on 17 September 2020.