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AMSTERDAM -- Ahold yesterday announced the timing of the capital repayment and reverse stock split as approved at its June 19 shareholders meeting.
On Aug. 22, after the close of New York Stock Exchange trading hours, the reverse stock split will take place by way of a 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.
Provided that no objection to the capital repayment has been filed, the date for the capital repayment of 1.89 euros per existing share will be Aug. 28. The capital repayment isn't subject to Dutch dividend withholding tax.