Adapteo withdraws dividend proposal and decides on a dual listing
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Adapteo Plc Press release 27 March 2020 at 3:15 p.m. CET
Adapteo Plc’s Board of Directors has decided to propose to the Annual General Meeting 2020 that no dividend will be paid in 2020. The Board of Directors has also decided on a dual listing of Adapteo’s shares at Nasdaq Helsinki with the intention that this is effective in the second half of 2020.
Adapteo is a well-capitalised company with a solid cash position. A strong financial position is important for Adapteo to demonstrate long-term financial stability to customers, since an average rental agreement lasts for five years. The preservation of cash and financial stability are areas of extra focus in early 2020 due to the uncertainty to all business from the Covid-19 pandemic. The Board of Directors thus proposes to the Annual General Meeting 2020 that no dividend will be paid this year.
The Board of Directors has also decided on a dual listing of Adapteo’s shares at Nasdaq Helsinki with the intention that this is effective in the second half of 2020. Further information will be given in connection with the Business Review for the first quarter. Adapteo’s shares are listed on Nasdaq Stockholm since 1 July 2019.
The notification of the Annual General Meeting will be published on 31 March. Adapteo Group’s Business Review for the first quarter of 2020 will be published on 14 May at CET 07:30 am.
For additional information, please contact
Erik Skånsberg, CFO, +46 70 264 70 35, erik.skansberg@adapteo.com
Niklas Alm, SVP Investor Relations, +46 708 24 40 88, niklas.alm@adapteo.com
The information above is such that Adapteo Plc is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 3:15 p.m. CET on 27 March 2020.
Adapteo in brief
Adapteo is a leading Northern European provider of modular space solutions. We operate in Sweden, Finland, Norway, Denmark and Germany. Adapteo is a new brand with over 30 years of experience, born from the acquisition of Nordic Modular Group and the demerger from Cramo. We offer premium modular space solutions to schools, daycare centers, offices, accommodation and events for temporary and permanent needs. In 2019, Adapteo’s net sales were EUR 216 million.
A changing society needs adaptable space. At Adapteo, we make sure everyone has the right kind of space, so that people can grow, and societies can move ahead. We create flexible modular spaces that are good for the planet and great for the future. Adapteo is listed on Nasdaq Stockholm.
Space to grow