Kendrion N : AGM confirms all proposals and announces refinancing
April 11, 2022 at 12:02 pm EDT
Share
April 11, 2022
Kendrion AGM confirms all proposals and announces refinancing
Kendrion N.V. confirms that all resolutions that were brought up for vote were adopted by the general meeting of shareholders earlier today.
The shareholders approed the distribution of a dividend of EUR 0.69 per share, representing a payment of dividend of 50% of the normalized net profit for 2021. The payment of the dividend will be made in cash, or, at the option of shareholders, in the form of ordinary shares.
The voting results per agenda item will be published on the Kendrion website on 12 April 2022.
Kendrion furthermore announces that it has raised EUR 72,500,000 through a sustainability linked transaction in the Schuldschein market. The split in maturities is EUR 52,500,000 in five years and priced at a spread of 125 bps and EUR 20,000,000 in three years with a spread of 100 bps. Pricing can vary with +/- 5 bps depending on the development of Kendrion's sustainability rating of Ecovadis. The volume was initially announced at EUR 50,000,000 and was increased due to strong demand from investors.
In addition, Kendrion has reached an agreement on key terms with ING Bank and HSBC Bank on a EUR 102,500,000 sustainability linked revolving facility agreement with a maturity of three years and a possible extension with up to two years. The proceeds of the Schuldschein and the revolving facility agreement will be used to refinance Kendrion's existing EUR 162,500,000 syndicated facility agreement.
Amsterdam, 11 April 2022
The Executive Board
For more information, please contact:
Kendrion N.V.
Mr. Joep van Beurden
Chief Executive Officer
Tel: +31 6 8330 1112
Email: IR@kendrion.com
Attachments
Original Link
Original Document
Permalink
Disclaimer
Kendrion NV published this content on 11 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 April 2022 16:00:31 UTC.
Kendrion N.V. specializes in the design, manufacturing and marketing of intelligent actuators that help advance the global push towards automation, electrification and cleaner forms of energy in a wide range of industrial and automotive applications. These actuators can be found in wind power turbines, robots, warehouse automation, electric vehicles, energy distribution and industrial heating processes. Net sales break down by business segment as follows:
- Automotive (50.5%): electromagnetic systems and components for passenger cars and commercial vehicles;
- Industrial (49.5%): industrial actuators and controls (solutions based on electromagnetic actuators, control technology and fluid technology) and industrial brakes (electromagnetic brakes for electromotors).
Net sales are distributed geographically as follows: Netherlands (2.9%), Germany (59.7%), Europe (18.7%), Americas (10%) and Asia (8.7%).
KENDRION N.V. 
