Understanding Aker Horizons ASA's Upcoming Dividend Distribution
Aker Horizons ASA's Dividend-in-Kind Overview
Aker Horizons ASA announces exciting developments regarding the payment of a dividend-in-kind. This comes after significant progress has been made in the company's merger with its subsidiary, Aker Horizons Holding AS (AKHH), and the subsidiary AKH HoldCo AS, which is part of Aker ASA.
Dividends and Shareholder Benefits
The key detail shareholders of Aker Horizons must note is the planned dividend distribution. Each shareholder will receive one (1) AKHH share for every share they currently hold in Aker Horizons. This strategic move allows shareholders to directly benefit from the merger consideration.
Dividend Details
The dividend-in-kind's declared currency is NOK. The payment process is structured carefully to ensure a smooth transition for shareholders. Key dates related to this dividend include:
- Last day including rights: four days prior to the ex-date
- Ex-date: the day after the last day including rights
- Record Date: when shareholders are officially noted for the dividend
- Expected Payment Date: shares will be delivered approximately one week after the record date
This structured delivery and exchange of shares emphasize Aker Horizons' commitment to maximizing shareholder value.
Replacement of Shares
Following the delivery of the AKHH dividend shares, shareholders can expect those shares to soon be replaced with new shares in Aker ASA. Specifically, they will receive a fraction of shares alongside a cash component as part of the merger completion—this amounts to 0.001898 shares in Aker ASA and NOK 0.267963 for each AKHH share. This process is subject to rounding based on the total number of shares held.
Tax Implications
The dividend-in-kind payment will be treated as a repayment of paid-in capital concerning Norwegian tax regulations. Consequently, shareholders will not face Norwegian withholding tax on this distribution, allowing them to maximize their financial benefits from this transaction.
Shareholder Retention Post-Merger
Importantly, shareholders will retain their original shares in Aker Horizons even after receiving the allotted shares from the merger with Aker ASA. This dual ownership reinforces Aker Horizons' intention to maintain shareholder value throughout the merger process.
Further Information and Contacts
For any inquiries regarding the dividend-in-kind and other company information, investors can reach out to:
Investor Relations:
Jonas Gamre
Mobile: +47 97 11 82 92
Media Contacts:
Mats Ektvedt
Mobile: +47 41 42 33 28
Frequently Asked Questions
What is a dividend-in-kind?
A dividend-in-kind is a distribution of assets other than cash to shareholders, often in the form of additional shares in a company.
How will the merger affect my current shares?
Shareholders will retain their original shares while also receiving new shares from the merger, enhancing their overall investment.
What are the tax implications for the dividend-in-kind?
This dividend will be treated as a repayment of paid-in capital and will not incur Norwegian withholding tax, benefiting shareholders financially.
When should I expect to receive my new shares?
Shareholders can expect to receive their AKHH shares on or about the payment date, with further details provided as the date approaches.
Who should I contact for investor relations inquiries?
You can contact Jonas Gamre for investor relations at +47 97 11 82 92 for any questions or information regarding Aker Horizons ASA.
About The Author
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