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OFFON

GREEK ORGANISATION OF FOOTBALL PROGNOSTICS S.A.

(OPAP)
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Greek Organisation of Football Prognostics S A : Announcement of the detachment of the right to the dividend/reinvestment of the dividend and payment of the dividend

06/17/2021 | 01:12pm EDT

Announcement of the detachment of the right to the dividend/reinvestment of the dividend

and payment of the dividend

The Company OPAP S.A. announces that the twenty first (21st) Annual General Meeting of the Shareholders of OPAP held on the 17th of June 2021 approved the distribution of a total gross dividend of 0.55 euro per share for the financial year 2020.

The gross amount of dividend for the financial year 2020 amounts in total to 186,778,219.65 euros prior to the withholding tax and excluding the 1,829,624 own shares of the Company and corresponds to a gross amount of 0.55 euro per share of the Company. The amount of dividend of

0.55 euro per share is subject to 5% withholding tax, where applicable, in accordance with the provisions of articles 61, 62 and 62 of Greek law 4172/2013, as in force. Therefore, the net amount of dividend for the financial year 2020 payable to the shareholders following the above withholding tax amounts to 0.5225 euro per share.

The nineteenth (19th) Annual General Meeting of the Shareholders of the Company held on the 22nd of May 2019 approved the introduction of a five-year dividend reinvestment program (2019 - 2023) (Scrip Dividend) and granted authorization to the Board of Directors of the Company to proceed to the determination of the specific terms of the Program on an annual basis, in implementation of the general terms thereof, as such terms were approved by the Annual General Meeting of the Shareholders of OPAP S.A.. Furthermore, the aforementioned Annual General Meeting of the Shareholders of OPAP S.A. approved the granting of authorization to the Board of Directors of the Company for the extra-ordinary share capital increase of the Company in implementation of the dividend reinvestment program as per the above, and in particular authorized the Board of Directors of the Company for the extra-ordinary share capital increase of the Company for a five-year period from 2019 to 2023 up to the amount of 50,000,000.00 euros, upon issuance of up to 160,000,000 new ordinary, registered voting shares, pursuant to article 24 of Greek law 4548/2018, providing also that the relevant authorization will cover all matters relating to the implementation of the general terms of the Program as defined by the resolution of the Annual General Meeting of the Shareholders of OPAP S.A., including the amendment of article 5 (entitled "Share Capital - Shareholders") of the Articles of Association of the Company.

The Board of Directors of the Company, in implementation of the general terms of the Program that were introduced by the nineteenth (19th) Annual General Meeting of the Shareholders of the Company held on the 22nd of May 2019, by virtue of its resolution of the 17th of June 2021 approved the increase of the share capital of the Company up to the amount of 7,800,000 euros, upon issuance of up to 26,000,000 new ordinary, registered voting shares, of nominal value of 0.30 euro each, and an issue price equal to the volume weighted average price (VWAP) of the first five (5) trading days of the election period for the exercise of the right to reinvest the dividend for the financial year 2020 (namely from 15.07.2021 up to and including 21.07.2021), reduced by a percentage of 3% (discount percentage). In case of a fractional amount, the issue price of the new shares will be rounded up to two decimal places.

In particular, the share capital increase of the Company will be effected by the reinvestment of the dividend for the financial year 2020 (amounting to 0.55 euro per each existing share of the Company), following the deduction of the 5% of the total amount of the approved dividend (0.0275

euro), which either corresponds to the amount of the withholding tax imposed on the amount of the dividend or is paid to the shareholders of the Company in cash, in case where the aforementioned amount of the dividend is not subject to withholding tax.

As a result, the increase will be effected by the reinvestment up to the total amount of the dividend, as per the above, namely up to the amount of 177,439,308.66 euros, thus up to the amount of 0.5225 euro per share, and provided that and to the extent that the shareholders elect, at their discretion, within a fourteen (14)-day period starting from the day following the date of determination of the shareholders being eligible to exercise the right to reinvest the dividend, namely from 15.07.2021 up to and including 28.07.2021, to reinvest the dividend in the form of an integer amount of new shares of the Company, either in total or in part, instead of cash.

In case where the process of determination of the conversion ratio between the issue price of the new shares and the amount of the dividend that the shareholder will declare at its discretion that it wishes to reinvest to the Company results to a fractional number, the conversion ratio will be rounded up to four decimal places.

The amount of the new shares of the Company that may be obtained by the eligible shareholder will result by dividing the total amount of the dividend that the shareholder at its discretion will declare that it wishes to reinvest to the Company by the relevant conversion ratio. In case where a fractional amount results from dividing the number of shares for which the shareholder of the Company is entitled to receive the dividend by the conversion ratio, such number should be rounded down to the nearest integer number, which will be the number of the new shares of the Company which may be obtained by the shareholder in the context of the Program. Any remaining amount of dividend of each shareholder will be paid to it in cash on the date of payment of the dividend, namely on 03.08.2021.

A shareholder of the Company which does not hold the number of shares required in order to obtain at least 1 new share of the Company according to the relevant conversion ratio, will not be entitled to participate to the Program, and will receive the total amount corresponding to the dividend for the financial year 2020 entirely in cash.

In case of partial subscription of the share capital increase of the Company, the new shares of the Company will not be distributed to third parties, nor to other shareholders, but the share capital of the Company will be increased up to the paid-up amount pursuant to article 28 of Greek law 4548/2018 and the Board of Directors of the Company will readjust article 5 (entitled "Share Capital - Shareholders") of the Articles of Association of the Company, defining the amount of share capital that will result from the partial subscription of its share capital increase.

The shareholders being eligible to receive the dividend for the financial year 2020 and the right to reinvest the relevant amount, as per above, are the shareholders of the Company being registered in Dematerialized Security System's records on Wednesday, 14.07.2021 (record date). As of Tuesday, 13.07.2021 (cut-off date), namely prior to the 16.07.2021, which signifies the expiration date for the Futures Contracts on the shares of the Company on the FTSE/ATHEX Large Cap index in which they are included, the shares of the Company will be trading in Athens Exchange without the right to the dividend for the financial year 2020 and without the right to reinvest such amount.

The payment of the dividend for the financial year 2020 to the beneficiaries will commence on Tuesday, 03.08.2021, and will be processed through the paying bank "PIRAEUS BANK S.A.", as follows:

  1. Through the operators of the beneficiaries in the Dematerialized Security System (Banks, custodians and securities firms), according to the ATHEXCSD Rulebook and
    ATHEXCSD's relevant resolutions.
  2. Especially in cases of dividend payment to heirs of deceased beneficiaries, whose securities are kept in the Special Account of their Share in the DSS under the management of ATHEXCSD, dividend payment process will be carried out after the completion of the legitimation of their heirs, through "PIRAEUS BANK S.A." network for five (5) years from the end of this year (namely, until December 31st, 2026).

It is clarified that the right to collect dividend disperses if not collected within a period of five (5) years from the end of the year that the corresponding right was conferred to the beneficiaries (article 250, par. 15, of Greek Civil Code) and that following such term any relevant amount shall be reimbursed to the Hellenic Republic according to article 1 of legislative decree 1195/1942.

For any further information, shareholders are requested to directly contact the Company's Investor Relations Team (contact number +30 210 5798930).

ATHENS, 17.06.2021

OPAP S.A.

Disclaimer

OPAP SA - Greek Organisation of Football Prognostics published this content on 17 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 June 2021 17:11:06 UTC.


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Sales 2021 1 613 M 1 891 M 1 891 M
Net income 2021 280 M 328 M 328 M
Net Debt 2021 352 M 412 M 412 M
P/E ratio 2021 15,4x
Yield 2021 7,42%
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Nbr of Employees 1 470
Free-Float 56,9%
Chart GREEK ORGANISATION OF FOOTBALL PROGNOSTICS S.A.
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Greek Organisation of Football Prognostics S.A. Technical Analysis Chart | OPAP | GRS419003009 | MarketScreener
Technical analysis trends GREEK ORGANISATION OF FOOTBALL PROGNOSTICS S.A.
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 8
Last Close Price 13,35 €
Average target price 15,55 €
Spread / Average Target 16,5%
EPS Revisions
Managers and Directors
Jan Karas Chief Executive Officer & COO-Retail
Pavel Mucha Chief Financial Officer & Executive Director
Kamil Ziegler Executive Chairman
Michele Fusella Chief Technology Officer
Igor Milos Rusek Independent Non-Executive Director