DGAP-News: SAF-HOLLAND S.A.: Annual General Meeting of SAF-HOLLAND S.A. receives strong shareholder support Adjustment of the Conversion Price and Conversion Ratio of the Convertible Bonds

Annual General Meeting of SAF-HOLLAND S.A. receives strong shareholder support
 

Adjustment of the Conversion Price and Conversion Ratio of the Convertible Bonds
 

Luxembourg, April 26, 2018 - Today's Annual General Meeting of SAF-HOLLAND S.A. consented to all of the Board of Director's proposals contained in the agenda items without dissenting votes. These included the approvals of the statutory financial statements and the consolidated financial statements for the financial year 2017, together with the statutory management report and group management report, as well as the auditor's report and the discharge of the members of the Board of Directors, which received an approval of 100%. The Annual General Meeting also discharged the auditors, PricewaterhouseCoopers Société coopérative, for the financial year 2017 and reappointed them as the auditors for the current financial year 2018.
 

Shareholders resolve a dividend increase to EUR 0.45 per share
The SAF-HOLLAND S.A.'s Annual General Meeting resolved a slightly higher dividend of EUR 0.45 per share (previous year: EUR 0.44) for the 2017 financial year.
This corresponds to a total payout of around EUR 20.4 million (previous year: EUR 20.0 million) and a payout ratio of 49.9% (previous year: 45.9%) of the result for the period and 47.6% (previous year: 45.1%) of the result for the period attributable to shareholders of the parent company. SAF-HOLLAND's sustainable dividend policy provides that, as a general rule, between 40 and 50% of its net income should be distributed as a dividend to shareholders.
 

The voting results of the Annual General Meeting 2018 of the SAF-HOLLAND S.A.'s are published on the website of the SAF-HOLLAND Group.
 

https://corporate.safholland.com/en/investor-relations/general-meeting/annual-general-meeting/2018
 

Adjustment of the conversion price and conversion ratio of the convertible bonds maturing on September 12, 2020
In accordance with the Terms and Conditions of the EUR 100,200,000 convertible bonds bearing 1.00% interest (ISIN: DE000A1ZN7J4), SAF-HOLLAND S.A. is hereby notifying the Bondholders that the Conversion Price and the Conversion Ratio have been adjusted.
 

Effective from April 27, 2018, the adjusted Conversion Price is EUR 11.9235 (previously EUR 12.0517), and consequently the adjusted Conversion Ratio is 8,386.7992 (previously 8,297.5846).

 

About SAF-HOLLAND:
SAF-HOLLAND S.A., located in Luxembourg, is the largest independent listed supplier to the commercial vehicle market in Europe delivering mainly to the trailer markets. With sales of approximately EUR 1,139 million in 2017 the Company is one of the world's leading manufacturers and suppliers of chassis-related systems and components primarily for trailers, trucks, buses, and recreational vehicles. The product range comprises axle and suspension systems, fifth wheels, kingpins, and landing gear marketed under the brands SAF, Holland and Neway. SAF-HOLLAND sells its products to Original Equipment Manufacturers (OEM) on six continents. The Group's Aftermarket business supplies spare parts to the service networks of Original Equipment Suppliers (OES), as well as to end customers and service centers through its extensive global distribution network. SAF-HOLLAND is one of the few suppliers in the truck and trailer industry that is internationally positioned in almost all markets worldwide. With the innovation campaign SMART STEEL - ENGINEER BUILD CONNECT, SAF-HOLLAND combines mechanics with sensors and electronics and drives the digital networking of commercial vehicles and logistics chains. More than 3,500 committed employees worldwide are already working today on the future of the transportation industry.