Fiat Chrysler Automobiles NV announced today that its Board of Directors has declared a conditional special cash distribution of €1.84 per common share corresponding to a total distribution of approximately €2.9 billion (the “cash distribution”), payable to holders of FCA common shares of record as of the close of business on Friday, January 15, 2021.
FCA and Peugeot S.A. (“Groupe PSA”) announced today that they expect to complete their proposed merger on Saturday, January 16, 2021. Payment of the cash distribution is conditioned upon the further announcement that all required corporate steps in preparation for completion of the merger have been taken and that the cash distribution has become unconditional, which is expected
to occur by Wednesday, January 13, 2021. Absent such announcement, no cash distribution will be payable.
If the cash distribution becomes unconditional as described above, the expected calendar for the cash distribution for both the New York Stock Exchange (“NYSE”) and the Mercato Telematico Azionario (“MTA”) will be as follows: (i) ex-date on Thursday, January 14, 2021; and (ii) record date on Friday, January 15, 2021. The cash distribution is expected to be paid as soon as practicable after the closing of the merger, and FCA will announce publicly the payment date in due course.
In order to ensure the coordination of the settlement on the NYSE and MTA of the cash distribution to be paid to FCA shareholders who are entitled thereto ahead of the merger, the ex-date and record date are expected to occur outside of Borsa Italiana’s usual settlement calendar, as agreed with Borsa Italiana.
While payment of the cash distribution will occur after closing of the merger, for the avoidance of doubt, no cash distribution will be payable with respect to shares of Stellantis issued to former shareholders of Groupe PSA upon effectiveness of the merger, or to any shareholder purchasing Stellantis shares after effectiveness of the merger.
SOURCE: FCA
