Sword Group - Cancellation of the dividend payment proposed to the General Meeting on 28 April 2020 Resolution not to distribute dividends When the Group publishes its quarterly revenue for 2020 on 23 April next, it will analyse not only the first ...
Sword Group - Cancellation of the dividend payment proposed to the General Meeting on 28 April 2020
Resolution not to distribute dividends
When the Group publishes its quarterly revenue for 2020 on 23 April next, it will analyse not only the first quarter of the year but also the outlook for the forthcoming quarters.
At that time, the Group will have a better vision of the economic consequences of the Coronavirus crisis.
In view of the current period of uncertainty, the Sword Group Board of Directors that met on 30 March 2020, has decided to cancel its proposal to pay dividends for the financial year 2019 at the next Shareholders’ General Meeting.
Indeed, the Group must be cautious given this unprecedented situation and at the current time, its main concern must be its staff and partners.
Hence, the text of the draft resolutions for the Ordinary and Extraordinary General Meeting has been modified.
In the same way, and in this context, all the Group subsidiaries must keep their cash.
Consequently, there will be no 2019 dividend distribution from our subsidiaries towards their parent company.
Source(s) : Sword Group
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