COVIVIO (EPA:COV) - Covivio General Meeting: approval of the scrip dividend option

Transparency directive : regulatory news

23/04/2020 11:45

Paris, 23 April, 2020

                           Covivio General Meeting:
  Approval of the scrip dividend option with a subscription price of EUR47.80

During the General Meeting of 22 April 2020, the shareholders approved the
amount of the dividend paid in respect of fiscal year 2019 of EUR4.80 per share
as well as the scrip dividend option.

The subscription price of the shares to be delivered as payment of the dividend
has been set at EUR47.80. It corresponds to 90% of the average of the closing
share price of the 20 trading sessions prior to the General Meeting of 22 April
2020, less the dividend(1).

The shares issued as a result will bear rights as of 1 January 2019 and will be
the subject of a request for authorisation to trade on the Euronext Paris
regulated market as well as on the MTA (Mercato Telematico Azionario) market on
the Milan Stock Exchange.

The shareholders represented on the Covivio Board of Directors (Delfin, Covea,
Predica and ACM, representing 49% of the capital) have already undertaken to
subscribe to this option. The balance sheet of Covivio will thus be reinforced
by a capital increase between EUR200 million to EUR420 million.

Dividend calendar:

* 27 April 2020: ex-dividend date

* 29 April 2020 to 18 May 2020 inclusive: period for exercising the scrip
  dividend option (after this period has expired, the dividend will be paid in
  cash)

* 22 May 2020: payment of the dividend in cash and settlement and delivery of
  the new shares

(1)The subscription price is rounded up to the next cent higher. If the amount
of dividends for which the option is exercised does not correspond to a whole
number of shares, the shareholders will be able to receive the next lowest
whole number of shares and the remainder paid in cash by Covivio.
The shareholders who wish to opt for the payment of the dividend in shares
should address their request to the financial intermediary handling their
securities account for shares registered in an account in bearer form or in a
managed registration account, and to the issuer account registrar of Covivio
(BNP Paribas Securities Services) for shares in the issuer registration
account.
The maximum number of shares to be issued through the payment of the dividend
in shares, if 100% of the shareholders were to subscribe to the option, would
represent 10% of the share capital as at 23 April 2020.

DISCLAIMER

The present release constitutes an information document required in application
of article 1 of chapter 1, paragraph 4, point h) and paragraph 5, point g) of
EU regulation 2017/1129 of the European Parliament and the Council of 14 June
2017. This release does not constitute a public offering to purchase or sell
financial securities subject to the producing of a prospectus. This press
release and any document pertaining to the payment of the dividend in the form
of shares may only be distributed outside France, if this is in accordance with
applicable laws and local regulations in force. It can in no way constitute an
offering of financial securities in countries where such an offer would violate
applicable laws and regulations.

The afore-mentioned dividend payment option is available to all Covivio
shareholders, except shareholders resident in countries where the share issue
resulting from such an option would have to be registered with, or approved by,
the local securities regulator. Shareholders resident outside France should
enquire about the conditions pertaining to this option which could be applied
by virtue of local laws. Shareholders are expected to inform themselves of any
conditions concerning such reinvestment that may apply under local law. When
deciding whether or not to exercise the stock dividend option, shareholders
should consider the risks associated with an investment in Covivio shares.

CONTACTS

Press Relations
Géraldine Lemoine
Tél : + 33 (0)1 58 97 51 00
geraldine.lemoine@covivio.fr

Laetitia Baudon
Tél : + 33 (0)1 44 50 58 79
laetitia.baudon@shan.fr

Investor Relations
Paul Arkwright
Tél : + 33 (0)1 58 97 51 85
paul.arkwright@covivio.fr

Hugo Soussan
Tél : + 33 (0)1 58 97 51 54
hugo.soussan@covivio.fr

ABOUT COVIVIO

Thanks to its partnering history, its real estate expertise and its European
culture, Covivio is inventing today's user experience and designing tomorrow's
city.

A preferred real estate player at the European level, Covivio is close to its
end users, capturing their aspirations, combining work, travel, living, and
co-inventing vibrant spaces.

A benchmark in the European real estate market with 24 BnEUR in assets, Covivio
offers support to companies, hotel brands and territories in their pursuit for
attractiveness, transformation and responsible performance.
Build sustainable relationships and well-being, is the Covivio's Purpose who
expresses its role as a responsible real estate operator to all its
stakeholders: customers, shareholders and financial partners, internal teams,
local authorities but also to future generations and the planet. Furthermore,
its living, dynamic approach opens up exciting project and career prospects for
its teams.

Covivio's shares are listed in the Euronext Paris A compartment (FR0000064578 -
COV) and on the MTA market (Mercato Telematico Azionario) of the Milan stock
exchange, are admitted to trading on the SRD, and are included in the
composition of the MSCI, SBF 120, Euronext IEIF "SIIC France" and CAC Mid100
indices, in the "EPRA" and "GPR 250" benchmark European real estate indices,
EPRA BPRs Gold Awards (financial + Sustainability), CDP (A), Green Star GRESB
and in the ESG FTSE4 Good, DJSI World & Europe, Euronext Vigeo (World 120,
Eurozone 120, Europe 120 and France 20), Euronext(r) CDP Environment France EW,
Oekom, Ethibel, Sustainalytics and Gaïa ethical indices.
Covivio is rated BBB+/Stable outlook by Standard and Poor's.

Notations solicited:
Financial part:         BBB+ / Stable outlook by Standard and Poor's
Extra-financial part:   A1+ by Vigeo-Eiris

covivio.eu

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COVIVIO (EPA:COV) - Covivio General Meeting: approval of the scrip dividend option

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