Shareholders endorse management team and ratify all the points on the agenda
Shareholders approve the allocation of 137.5 million euros to dividends, distributed in two payments: an interim dividend of 0.20 euros (gross) per share, paid in June 2013, and a second dividend for the same amount to be paid on June 5, 2014
Interim dividend on account of 2014 results foreseen before year end announced
Number of directors increased to 13, with the appointment of Ms. Marla E. Salmon as a new, independent, external director
Barcelona, May 30, 2014: Grifols (MCE:GRF,MCE:GRF.P and NASDAQ:GRFS), one of the world's leading companies in the plasma-derived biological medicines and transfusion medicine sectors, has held its Ordinary General Meeting of Shareholders on second call. 605 shareholders were represented; accounting for 163,557,616 Class A shares, representing 76.7% of the company's voting share capital.
The votes delegated to the Board of Directors represented approximately 56.51% of the company's share capital, demonstrating shareholders' confidence in the management and the group's business plan. A key event during 2013 was the acquisition of the diagnostic transfusion unit of Novartis. The transaction was completed on January 9,
2014, leading to the expansion of Grifols' Diagnostic division and creating a vertically integrated company capable of offering solutions to blood donor centers on the basis of a comprehensive portfolio of immunohematology products.
Internationalization continues to be one of the strategic drivers of the company. As part of this process and to underpin the group's organic growth, Grifols will allocate 600 million euros to capital expenditure during the period 2014-2016, with the aim of ensuring manufacturing capacities and technical and human resources required to achieve this goal.
Debt reduction remains a priority for Grifols. The success of the refinancing process, completed in the first quarter of 2014, has delivered a two-point reduction in average debt costs, which now stand at below 3.5%. To achieve this strategy of rapid deleveraging, the group counts with high and sustainable levels of operating activity and
cash generation.
Key points on the agenda endorsed by shareholders include:
Free translation from the original in Spanish. In the event of discrepancy, the Spanish-language version prevails.
Approval of the annual accounts, both individual and consolidated, consisting of the balance sheet, profit and loss account, statement of changes in net equity, cash flow statement, and the corresponding management reports.
Reappointment of the auditors.
The appointment of Ms. Marla E. Salmon as new independent director of Grifols for a statutory term of 5 years, thus increasing the number of directors of the company's Board to 13.
Remuneration for external directors that do not provide any paid professional service to the company during the year, of 100,000 euros (gross) in 2014.
Shareholders also agreed by a majority to renew the delegation of powers to the Board of Directors for a possible stock split of class A and class B shares on the same terms as those proposed in December 2012, and to apply for the listing of class A shares on the NASDAQ.
Grifols will distribute 40% of the group's consolidated net profit to its shareholders
The Board of Directors of Grifols has agreed to pay a final dividend of 0.20 euros (gross) for each Class A and Class B share, charged to the 2013 results. This involves allocating to dividends a total of 137.5 million euros in the financial year, following the distribution of an interim payment for the same amount on June 5, 2013. As a result, the company's payout will be 40% of the group's consolidated net profit.
This new dividend will be paid on June 5, 2014 through Iberclear, with BBVA as appointed payment agency.
In addition, the Board of Directors announced a new interim dividend on account of 2014 results foreseen before the end of the year.
Grifols has kept its commitment to maintain the maximum level of reward for its shareholders, who demonstrated their confidence in the company's management and its future in 2011 and 2012 by approving the allocation of all profits achieved on those years to voluntary reserves, receiving class B, fully paid up shares as payment.
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