STRABAG SE Announces Cash Distribution Following Capital Reduction Resolution

STRABAG SE, headquartered in Villach, announced the payment of a cash distribution following a capital reduction decision made during its 19th Annual General Meeting on June 16, 2023. Shareholders will receive a conditional entitlement of EUR 9.05 per share, as the payment conditions have now been met. This distribution arises from the ordinary capital reduction aimed at repaying shareholders of the company.

The process entails a cash distribution for shareholders who did not opt for new shares during the subscription offer published on September 11, 2023. The shares of STRABAG SE (ISIN AT000000STR1) will begin trading without claim for this cash distribution starting March 22, 2024, with the official record date set on March 25, 2024. The payment date is scheduled for the following day, where a value right assigned to each entitled share will be credited to shareholders’ accounts, enabling them to receive the cash distribution.

A designated depositing agent, Erste Group Bank AG, is responsible for facilitating the distribution process, with a submission period for holders from March 26 to April 10, 2024. The payment of the cash distribution is expected to proceed on April 15, 2024, pending the fulfillment of certain management board decisions and confirmations concerning specific shared ownerships, notably by the Russian firm MKAO "Rasperia Trading Limited."

The announcement also highlights the ongoing dispute with Rasperia Trading Limited, which has challenged the capital reduction and non-cash capital increase resolutions. Resolution of this legal matter might impact the capital adjustment actions initiated by STRABAG SE.