2.2
The share
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Accell Group shares have been listed on the official market of Euronext Amsterdam since 1998 and are included in the Amsterdam Small Cap Index (AScX). The listing contributes to disciplined and transparent operations. It also gives us improved access to external capital for growth financing and consequently contributes to the realisation of our ambitions.
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Stock Exchange listing
Each ordinary share entitles the holder to one vote. To protect the continuity of (the strategy of) Accell Group and its stakeholders, the preference share foundation Stichting Preferente Aandelen Accell Group has the option to acquire the number of cumulative preference shares B required to make the foundation, once it has acquired said shares, the holder of one half, less one share, of the (increased) issued and paid-up capital. We refer you to Corporate governance for more detailed information.
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SHARE PRICE MOVEMENTS AND TRADeaBILITY
In 2020, the share price increased by 0.19%. In the period year-end 2015 through year-end 2020, the overall increase in the share price was 17.98%. Share turnover increased by 127.5% in 2020 and increased by 158.9% compared with 2016. Market capitalisation increased by 0.20% to € 693 million at year-end 2020.
Overview shareholder base
The above percentages represent real capital interests and are based on the disclosures of major holdings reported to the Dutch Financial Markets Authority AFM pursuant to the Financial Supervision Act (Wft). As soon as an interest rises to 3% or more of the issued share capital, the holder must report same. Shareholders are subsequently obliged to file a new disclosure as soon as the major holding reaches, exceeds or drops below a threshold level. This may be the case if a shareholder obtains or loses control of shares, or as a result of an increase or decrease in the company’s issued capital. The thresholds for this are: 3%, 5%, 10%, 15%, 20%, 25%, 30%, 40%, 50%, 60%, 75% and 95%.
Dividend
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Accell Group strives for a stable dividend policy, with the aim of paying out at least 40% of its net profit. However, in light of the unforeseen and unprecedented impact of COVID-19 the Accell Group Board of Management decided in March 2020 to withdraw the 2019 dividend proposal of € 0.30 per ordinary share.
In 2020, we arranged a two-year amortizing bank facility of € 115 million with our bank consortium under the Dutch GO-C scheme which mainly serves as an extra financial buffer. According to the amended group financing agreement dividend limitations apply. The most important one being that no cash dividend distributions shall be made, unless the GO-C facility is repaid and cancelled.
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Investor relations
Accell Group strives to provide its shareholders, potential shareholders, analysts and other financial stakeholders with all relevant strategic, financial and other material information, accurately, meticulously and in a timely fashion, to improve insight into the company, current developments and the market in which it operates.
Accell Group’s financial year is the same as the calendar year and runs from January through December. Accell Group publishes its full financial results annually and semi-annually. From 2017 onwards, Accell Group only publishes interim trading updates on the company’s financial and operational developments when there is reason to do so. Such publications, as well as other (non-financial) announcements, appointments and reports, will always be made in accordance with the prevailing regulations and the guidelines of Euronext Amsterdam and the Dutch Financial Markets Authority (AFM).
The company organises meetings and conference calls with (institutional) investors, analysts and gives interviews to the media for the presentation and explanation of the annual and interim results. Prior to the publication of annual and interim results, Accell Group maintains closed periods of 30 days. We have no meetings or conversations with (potential) shareholders, analysts, or other financial stakeholders during these closed periods.
In the course of the year and outside the closed periods, members of the Board of Management have regular one-on-one meetings with (major) shareholders and interested institutional investors. It is worth noting that there is an increasing awareness of and interest in Accell Group among foreign investors. The same is true for the interest shown by investors with a focus on sustainability and corporate social responsibility, themes Accell Group also focuses on via its products and strategy.
You will find more information on the policy regarding bilateral contacts with shareholders on Accell Group’s corporate website.
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Financial Agenda FOR 2021
