Published: 09-05-2019 13:47

Stern Groep N.V., the listed Dutch mobility group in automotive retail and services, announces that its shareholders have approved the sale to SternLease to ALD Automotive at today’s General Meeting. The net book gain to be recognised in 2019 will be approximately € 23 million. Following this approval, the General Meeting also approved the proposal for distribution of an interim dividend.

General Meeting approves transaction with ALD Automotive

This morning, the General Meeting approved the sale of SternLease B.V. to ALD Automotive in combination with a long-term partnership agreement. The Management Board and the Supervisory Board are delighted with the transaction and look forward to a close and mutually beneficial relationship with ALD Automotive with great confidence.

Proposal for interim dividend approved

The dividend proposal approved concerns the payment of dividend in parts. Firstly, a cash dividend of € 2.50 per share will be distributed after completion of the transaction on 31 May 2019. The interim dividend will be available for payment on 12 June 2019. After the final transaction price is set, a second interim cash dividend of € 1.00 per share will be paid.

Depending on the results of Stern Group in 2019 and to the extent that Stern has a solvency ratio of above 35% on 31 March 2020, there will be another payment per share to be determined at a later date.

The cash payment will be made after deduction of 15% dividend tax, unless another rate applies under tax regulations.

The following schedule will apply to the dividend payment:

13 May 2019:                shares quoted ex-dividend

14 May 2019:               record date

12 June 2019:               cash interim dividend payable

Payment of the interim dividend will be made to your bank or broker via Euroclear Nederland.