Pursuant to the combination agreement between Valmet Oyj and Neles Corporation concerning the merger of the companies, the Board of Directors of Neles has today resolved based on the authorization given to it by the Annual General Meeting 2022, that an extra dividend of EUR 1.74 per share will be distributed from the company’s retained earnings and a return of equity of EUR 0.26 per share will be distributed from the invested unrestricted equity fund (the dividend and the return of equity together the “Extra Distribution”). The Extra Distribution payable constitutes therefore in total EUR 2.00 per share.
As Valmet and Neles announced earlier today, the Boards of Directors of Valmet and Neles have approved the execution of the merger conditional on the Extra Distribution having been resolved by the Board of Directors of Neles and the Extra Distribution being executed in accordance with said decision prior to the completion of the merger.
The Extra Distribution will be paid on March 31, 2022 to shareholders who are on the record date of the Extra Distribution, March 24, 2022, entered in Neles’ shareholder register maintained by Euroclear Finland Oy. In deviation of the aforesaid and as announced earlier today, Valmet’s part of the Extra Distribution, approximately EUR 88.8 million, will remain as debt owed to Valmet and will extinguish as a consequence of the execution of the merger.
Once the Extra Distribution has been executed, the related condition to completion of the merger will be fulfilled. Valmet and Neles will confirm the registration of the execution of the merger through a separate stock exchange release prior to April 1, 2022.
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