Key Developments: Coca Cola HBC AG (CCHBF.PK)
26.50USD
6 Jun 2013
$0.10 (+0.38%)
$26.40
$26.50
$26.50
$26.50
7,852
193
$28.98
$15.25
Latest Key Developments (Source: Significant Developments)
Coca Cola HBC AG Initiates Squeeze-Out Process For Coca Cola Hellenic Bottling Co SA
Coca Cola HBC AG announced that on May 22, 2013, the Hellenic Capital Market Commission approved its application to initiate the buy-out process and has resolved, that the last trading day of the ordinary shares of Coca Cola Hellenic Bottling Company SA on the Athens Exchange will be June 6, 2013. Upon completion of the buy-out, which is expected to occur on or around June 18, 2013, Coca Cola HBC will compulsorily acquire the 11,544,493 Coca Cola Hellenic Shares that it did not acquire in its voluntary tender offer for all Coca Cola Hellenic Shares and Coca Cola Hellenic will become a wholly owned subsidiary of Coca Cola HBC. The consideration payable for each Coca Cola Hellenic Share subject to the buy-out will be, at the election of the remaining holders, either (a) one ordinary registered share of Coca Cola HBC in one of the forms available to such holders in the Offer or (b) EUR 13.58 in cash, reduced by the applicable Greek transfer tax. In either case, Coca Cola HBC will assume the payment of clearing duties and the remaining holders will not have to pay brokerage commissions, although banks, brokers or other custodians through which Coca Cola Hellenic Shares are held may impose charges for any services that they may provide to such holders in connection with the buy-out. Full Article
Coca Cola HBC AG Announces Squeeze-Out Process For Coca Cola Hellenic Bottling Co SA
Coca Cola HBC AG announced that it has submitted on May 17, 2013 an application to the Hellenic Capital Market Commission to initiate a squeeze-out process pursuant to article 27 of Greek Law 3461/2006 following the completion of its offer for all registered shares of Coca-Cola Hellenic Bottling Company SA. Upon completion of the squeeze-out, Coca-Cola HBC will compulsorily acquire the 11,544,493 Coca-Cola Hellenic Shares that it did not acquire in the Offer.The consideration payable in the squeeze-out will be, at the election of each holder of Coca-Cola Hellenic Shares subject to the squeeze-out, either (a) one new Coca-Cola HBC ordinary registered share in one of the forms available in the Offer, or (b) EUR 13.58 in cash, reduced by the applicable transfer tax. Full Article
Coca Cola HBC AG Proposes Dividend
Coca Cola HBC AG announced that the Board of Directors of Coca-Cola HBC decided to propose to its shareholders the distribution of a EUR 0.34 dividend per share. The dividend is to be paid out of Coca-Cola HBC's capital contribution reserves and the total aggregate amount is capped at CHF 200 million. In case the cap is exceeded, the euro per share dividend amount will be reduced on a pro rata basis. The declaration of such dividend will be subject, among other things, to the shareholders' approval at an extraordinary general meeting of Coca-Cola HBC, which is expected to take place in June 2013. Subject to the approval of the dividend by Coca-Cola HBC's shareholders and to the prior completion of the Greek statutory squeeze-out of the remaining Coca-Cola Hellenic Bottling Company S.A. minority shareholders, the Board of Directors anticipates that the dividend will be paid on July 23, 2013 to holders of Coca-Cola HBC shares on the record date June 28, 2013. The shares are expected to be traded ex-dividend as of June 26, 2013, in which case the last day on which the shares may be traded with entitlement to receive dividends will be June 25, 2013. In the event that the statutory squeeze-out is delayed, the Board of Directors expects to postpone the ex-dividend date, the record date and the payment of the dividend until after the completion of the Greek statutory squeeze-out. Full Article
UPDATE 1-Bottler Coca-Cola HBC posts flat sales, meets forecast
* Says conditions in established markets remain tough (Adds details, dividend)
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