ROBIT PLC STOCK EXCHANGE RELEASE 27 OCTOBER 2020 AT 10.45 A.M.
ROBIT PLC’S BOARD OF DIRECTORS DECIDED NOT TO DISTRIBUTE FUNDS FROM INVESTED UNRESTRICTED EQUITY FUND
Based on the authorization of the Annual General Meeting 2020, the Board of Directors of Robit Plc has decided today that the company will not distribute funds from the company’s invested unrestricted equity fund to the shareholders. With this decision, Robit Plc prepares for the possible second wave of COVID-19 pandemic, as well as near future investments to increase automation and capacity.
The Annual General Meeting resolved to authorize the Board of Directors to resolve that the maximum of EUR 0.03 per outstanding share, if any, would be paid from the company’s distributable funds to the shareholders if the financial position of the company is favorable to such distribution. The possible distribution of funds would be executed as repayment of capital from the company’s invested unrestricted equity fund. The Board of Directors has the right to decide on all other terms regarding the afore-mentioned distribution of funds. The authorization remains in force until 31 December 2020.
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Nasdaq Helsinki Ltd
Robit is a strongly internationalized growth company servicing global customers and selling drilling consumables for applications in mining, construction and contracting, tunneling and well drilling. The company's offering is divided into two product and service ranges: Top Hammer and Down-the-Hole. Robit has 12 of its own sales and service points throughout the world as well as an active sales network in 100 countries. Robit’s manufacturing units are located in Finland, South Korea, Australia and the UK. Robit’s shares are listed on Nasdaq Helsinki Ltd. Further information is available at www.robitgroup.com.