Papendrecht, 13 May 2014
Royal Boskalis Westminster N.V. (Boskalis) announces that the Annual General Meeting of Shareholders adopted the 2013 financial statements at the annual meeting (the Meeting) held today. All other voting items were also adopted, including:
The Meeting reappointed Mr. H.J. Hazewinkel as member and deputy chairman of the Supervisory Board for a term of four years.
The Meeting approved the proposed dividend of EUR 1.24 per share to be distributed in ordinary shares, unless the shareholder opts to receive a cash dividend. The relevant option period will commence on 20 May 2014 and close on 2 June 2014. The dividend will be payable from 11 June 2014.
The Meeting approved the appointment of EY as the Company's auditor as from the 2014 financial year.
Authorization of share buyback program
Within the framework and principles of the Corporate Business Plan for the period 2014-2016 the company previously announced the intention to launch a share buyback program for up to 10 million shares. The program will be executed in the period 2014-2016 subject to the development of results and maintaining the desired balance sheet ratios. To enable the execution of the program the Meeting granted authorization to the Board of Management to repurchase up to 10 per cent of the total issued share capital over a period of 18 months.
Reduction of issued share capital
In connection with the share buyback program the Meeting granted approval for repurchased shares to be canceled and thereby reducing the issued share capital.
Furthermore the Supervisory Board reappointed Mr. J.H. Kamps, currently CFO and member of the Board of Management, for a period of four years. In addition the appointment of Mr. F.A. Verhoeven, member of the Board of Management, was extended for a period of one year until the Meeting of 2016. Mr. A. Goedée has stepped down from the Board of Management of the Company with effect from today. The Supervisory Board wishes to thank Mr. Goedée for the good cooperation in the past year. As a member of the Board of Management Mr. Goedée made an important contribution to the integration of Boskalis and Dockwise.
|15 May||Ex-dividend date|
|19 May||Record date for dividend entitlement (after market close)|
|2 June||Final date for stating preference for dividend in cash or shares|
|5 June||Determination and publication of conversion rate for stock dividend based on the volume-weighted average share price on 3, 4 and 5 June (after market close)|
|11 June||Dividend payment and delivery of shares|
|14 Augustus||Publication of 2014 half-year results|
|14 November||Trading update on third quarter 2014|
FOR FURTHER INFORMATION
Martijn L.D. Schuttevâer
T +31 78 6969310
This is an English translation of the Dutch press release. In the event of any disparity between the Dutch original and this translation, the Dutch text will prevail.
Royal Boskalis Westminster N.V. is a leading global services provider operating in the dredging, maritime infrastructure and maritime services sectors. The company provides creative and innovative all-round solutions to infrastructural challenges in the maritime, coastal and delta regions of the world with the construction and maintenance of ports and waterways, land reclamation, coastal defense and riverbank protection. In addition, Boskalis offers a wide variety of marine services and contracting for the offshore energy sector including transport, logistics and installation (through Boskalis Offshore and Dockwise) and towage and salvage (through SMIT). It also has a strategic partnership in terminal services (Smit Lamnalco). With a versatile fleet of over 1,000 units Boskalis operates in around 75 countries across six continents. Including its share in partnerships, Boskalis has 11,000 employees.
This press release can also be found on our website www.boskalis.com.
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