Hogan Lovells advises DIC Asset AG on its fourth scrip dividend
Led by Frankfurt-based partner Prof. Dr. Michael Schlitt, Hogan Lovells has advised DIC Asset AG on its fourth scrip dividend transaction.
Shareholders were given the choice to receive the dividend for the financial year 2020 either in cash only or partly in cash and partly in the form of new shares of DIC Asset AG. With a subscription price at EUR 14.95 for each new share, and a subscription ratio of 29.9 to 1, the acceptance rate was around 47.27 percent of the dividend-bearing shares. To create the 1,274,135 new shares, DIC Asset AG increased its share capital by making use of authorized capital. The subscribed share capital thus increased by approx. 1.6 percent.
Hogan Lovells team for DIC Asset AG
Prof. Dr. Michael Schlitt (Partner, Lead), Mark Devlin (Counsel), Dr. Susanne Ries (Of Counsel), Dr. Timo Lockemann, Christian Schröder (Associates), Eva-Christina Sommer, Simona Gradišek (Business Lawyers) (all Corporate and Capital Markets, Frankfurt);
Dr. Heiko Gemmel (Partner), Anne-Svenja de Kiff (Senior Associate) (both Tax, Dusseldorf).