Zaandam, the Netherlands – Ahold today announced that its reverse stock split became effective after close of New York Stock Exchange trading hours on March 27, 2014.
The reverse stock split consisted of a consolidation of every 13 existing shares, with a nominal value of €0.30 each, into 12 new shares, with a nominal value of € 0.01 each. Trading in new shares with the new nominal value will commence on March 28, 2014.
Ahold received confirmation that no objection has been filed against the capital repayment in connection with the reverse stock split. The payment date for the capital repayment of € 1.14 per remaining share will be April 3, 2014.
For shareholders holding shares through Euroclear Nederland, the record date will be at the close of trading hours of Euronext Amsterdam on April 1, 2014. As communicated in the press release of March 14, 2014, the ex-date on Euronext Amsterdam is today. Shareholders holding their shares with a bank or broker will be informed by their respective bank or broker. Shareholders registered in Ahold’s register will be informed by Ahold about the administrative process. Holders of American Depositary Receipts (ADRs) will be paid in U.S. dollars and must hold their ADRs after close of trading in the United States on March 31, 2014.
If the number of shares held by any one shareholder is not exactly divisible by 13 before consolidation, banks and brokers will round the positions up or down, depending on the particular contractual arrangements between the bank or broker and the shareholder.
Finally, Ahold hereby confirms that it will commence the remaining portion of its €2bn share buyback program, of which a total number of 91,942,400 common shares have been repurchased, up to and including March 7, 2014, for a total consideration of €1,172.89 million. The share buyback program will restart on March 31, 2014, and is expected to be completed by the end of 2014.
Cautionary notice
This press release includes forward-looking statements, which do not refer to historical facts but refer to expectations based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those included in such statements. These forward-looking statements include, but are not limited to, statements as to the record date, the dates of the actual capital payment, contractual arrangements between the bank or broker and the shareholder and the date of the restart of the share buyback program. These forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by the forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond Ahold’s ability to control or estimate precisely, such as the effect of general economic or political conditions, fluctuations in exchange rates or interest rates, increases or changes in competition, Ahold’s ability to successfully implement and complete its plans and strategies, the benefits from and resources generated by Ahold’s plans and strategies being less than or different from those anticipated, changes in Ahold’s liquidity needs, the actions of competitors and third parties and other factors discussed in Ahold’s public filings and other disclosures. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Ahold does not assume any obligation to update any public information or forward-looking statements in this press release to reflect subsequent events or circumstances, except as may be required by applicable laws. Outside the Netherlands, Koninklijke Ahold N.V., being its registered name, presents itself under the name of “Royal Ahold” or simply “Ahold.”
