The ABC arbitrage Annual General Meeting was held on June 16, 2017. During the meeting, which was chaired by Dominique Ceolin, Chairman and Chief Executive Officer, the shareholders adopted all the ordinary and extraordinary resolutions put to the vote.
The meeting provided an opportunity to present to shareholders the drivers of 2016 net income. In accordance with the announcements already made in the 2016 annual results meeting in March 2017, the Group confirmed the correlation of its business lines to general market volatility. The first five months of 2017 present a significantly lower pace of activity than in the first half of 2016.
The group is continuing its R&D investments, which are reflected in new hires and the continued development of its technical infrastructure. The group confirms the announcements made in March 2017 of an increase in its expenses of approximately 2 million euros in 2017.
After approving the financial statements, shareholders voted to pay a final dividend of €0.25 per share. Taking into account the €0.20 per share interim distribution in November 2016, the total distribution for FY 2016 amounts to €0.45 per share.
At the Board of Directors meeting held immediately after the Annual General Meeting it was decided not to use the possibility of a payment of the dividend in shares in line with what was discussed during the general meeting. The proportion of the distribution constituted by issuance premiums will be specified at the time of payment.
The distribution schedule of €0.25 per share is as follows:
● Ex-dividend date: July 20, 2017
● Payment date: July 24, 2017
The General Meeting also decided to pay an amount of €0.20 per share from the issuance premiums in the fourth quarter of 2017 in a timetable that will be specified at the time of publication of the half-yearly results. Shareholders re- elected Marie-Ange Verdick as independent director, for a period of four years. They also re-elected Ernst & Young as auditor for a period of six years.