Axis AB: The Board of Directors of Axis Has Received a Dividend Proposal
May 25 2015 - 2:17AM
Business Wire
Regulatory News:
The Board of Directors of Axis (STO:AXIS) has received a
dividend proposal
Axis is holding its Annual General Meeting on Monday, June
15.
The notice of the Meeting states the following:
”In the light of the new ownership structure following the
completion of the public cash offer by Canon Inc., the Board of
Directors has resolved to withdraw its prior proposal. Instead, the
Board of Directors proposes that no dividend is paid for the
financial year 2014 and that the company’s results are carried
forward.”
The Board of Directors has now received the following proposal
for the Annual General Meeting.
PROPOSAL FOR RESOLUTION ON DIVIDEND IN AXIS AKTIEBOLAG
(PUBL)
Elliot International, L.P. and Liverpool Limited Partnership
(collectively “Elliot”), shareholders in Axis Aktiebolag (publ)
(“Axis”) with 2,411,506 and 4,681,158 shares respectively, hereby
propose that the profits at the disposal of the annual general
meeting of shareholders in Axis 2015 shall be appropriated as
follows:
that a dividend of SEK 6.00 per share
shall be paid to shareholders SEK 416,767,500
to be carried forward SEK 5,937,306
Total SEK 422,704,806
The proposed dividend corresponds to the dividend distribution
proposed by the Board of Directors of Axis in the financial report
for the period ending 31 December 2014, and reiterated again in the
report for the period ending 31 March 2015. The Board of Directors
deemed the earlier proposed dividend appropriate considering that
it stated that it “anticipates a continued positive trend [for
Axis] during the 2015 fiscal year.” In addition, the Board of
Directors stated that it is their view “that the proposed dividend
will not prevent the company from fulfilling its obligations over
the short or long term or from making necessary investments.”
Elliot has no reason to believe that these assumptions would have
changed as per the date of this proposal.
Wednesday 17 June 2015, is proposed as record date for the
dividend.
The proposal of the Board of Directors set forth above remains
unchanged.
Canon Inc., holding approximately 85 percent of the shares of
Axis, has stated that Canon will vote against Elliot’s
proposal.
However, due to Elliot’s proposal the Board of Directors is
obliged to make a reasoned statement:
”The Board of Directors anticipates a continued positive trend
during the 2015 fiscal year. The view of the Board of Directors is
that the dividend proposed by Elliot will not prevent the company
from fulfilling its obligations over the short or long term or from
making necessary investments.”
Axis discloses the information provided herein pursuant to the
Securities Market Act and the Takeover Rules. The information was
submitted for publication on 25 May 2015 at 08.00 a.m. CET.
About Axis Communications
Axis offers intelligent security solutions that enable a
smarter, safer world. As the global market leader in network video,
Axis is driving the industry by continually launching innovative
network products based on an open platform - delivering high value
to customers through a global partner network. Axis has long-term
relationships with partners and provides them with knowledge and
ground-breaking network products in existing and new markets.
Axis has more than 1,900 dedicated employees in more than 40
countries around the world, supported by a network of over 75,000
partners across 179 countries. Founded in 1984, Axis is a
Sweden-based company listed on NASDAQ Stockholm under the ticker
AXIS. For more information about Axis, please visit our website
www.axis.com
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AxisInvestor RelationsJohan LundinInvestor Relations
ManagerPhone: + 46 46 272 2700E-mail: ir@axis.com