You are here
AMSTERDAM -- Ahold here said yesterday that its reverse stock split took effect after the close of trading hours of the New York Stock Exchange on Aug. 22.
The reverse stock split was consolidation of every five existing shares with a nominal value of 0.24 euros each into four new shares with a nominal value of 0.30 euros each. Trading in new Ahold shares with the new nominal value began yesterday.
No objection has been filed against the capital repayment in relation to the reverse stock split, according to Ahold. The date for the capital repayment of 1.89 euros per existing share has been set for Aug. 28. The capital repayment is not subject to Dutch dividend withholding tax.
If the number of shares held by any one shareholder isn't exactly divisible by five, banks and brokers will round positions up or down, depending on the particular contractual arrangements between the bank or broker and the shareholder, Ahold said.