Location technology specialist TomTom (TOM2), today announced that it will repay approximately €750 million resulting from the divestment of Telematics to its shareholders on 27 May 2019.
The share consolidation is expected to take place after the close of trading on the Euronext Amsterdam Exchange on 22 May 2019, by way of a consolidation of every 16 issued ordinary shares into 9 new ordinary shares which will result in a capital repayment of €5.74 per remaining share (equivalent to about €3.22 per share based on the pre-consolidation number of shares outstanding).
Shareholders will be informed of their new shareholdings and the cash amount to be received by their respective bank or broker.
Expected timetable:
- 22 May 2019: shareholders by end of trading day are subject to the share consolidation and entitled to the capital repayment
- 23 May 2019: trading based on the new quantity of shares (ex-date shares)
- 24 May 2019: record date
- 27 May 2019: capital repayment date
SOURCE: TomTom
