The Board of AVTECH Sweden AB (publ) (”AVTECH” or the ”Company”) has decided, ahead of the upcoming Annual General Meeting (”AGM”) on June 9 2014, to propose to the AGM to resume the quarterly dividends on the Company’s preference shares that were halted in connection to the Company’s reorganization during the summer of 2013. The last quarterly dividend was paid with the record day of April 30, 2013. Dividend payments shall, if the AGM approves of the Board’s proposal, be resumed on the record day that follows the AGM, i.e. on July 31 2014. Such payment shall according to AVTECH’s statutes include the outstanding dividend plus a factor equivalent to an annual interest of twenty percent starting at each quarterly period when dividends were supposed to be paid.
”I am pleased that the Board has now taken the decision to propose to the Annual General Meeting to resume dividends on our preference shares”, says Christer Staaf, the CEO of AVTECH”. “Dividends were halted during the summer of 2013 due to the challenging situation of the company. In a situation that has now improved it is important for AVTECH to be able to meet the expectations of the company’s investors, which, specifically in regards of our preference shares, involves dividends”, continues Christer Staaf. “In spite of the Board’s decision to propose resumed dividends, it is important to note that it is obviously the Annual General Meeting in June that ultimately makes the decision on any potential dividend payments related to our preference shares”, concludes Christer Staaf.
For more information, please contact
Christer Staaf, CEO, +46 (0) 8 544 104 80
Jonas Saric, CFO, +46 (0) 8 544 104 80
About AVTECH Sweden AB (publ)
AVTECH develops products and services for digital Air Traffic Management (ATM). Its customers include the global aviation industry; e.g. airlines, airports, aviation authorities, technology companies and airline manufacturers. By using AVTECH’s products and services, each individual flight as well as the entire airline operation can be optimized in terms of cost, noise and emission, efficiency, punctuality and safety. The head office is in Stockholm, Sweden with subsidiaries in Toulouse, France and Dubai, U.A.E. AVTECH Sweden AB is listed on NASDAQ OMX First North and has appointed Mangold Fondkommission AB, tel: +46 8 503 01 550, as Certified Adviser.