Société de la Tour Eiffel
Paris : EIFF

May 29, 2012 11:50 ET

Societe de la Tour Eiffel: 24 May 2012 AGM: Adoption of Motions and Alternative Scrip Issue for 2011 Final Dividend

PARIS--(Marketwire - May 29, 2012) -


24 May 2012 AGM: adoption of motions
and alternative scrip issue
for 2011 final dividend

All AGM motions carried

The Annual General Meeting adopted by a large majority (between 72.3 and 99.9%) the 19 motions proposed, including:

* Approval of the company accounts and consolidated financial statements, appropriation of earnings and distribution,
* Renewal of Renaud Haberkorn's appointment as a director (assumes the role of company Managing Director as from 1(st) September 2012) and of Aimery Langlois-Meurinne (Chairman of the Appointment and Remunerations Committee) as a non-executive director,
* Appointment of Frédéric Maman (44, Director of the subsidiary Tour Eiffel Asset Management) as executive director.

Payment of the final dividend by scrip issue or in cash

The company proposes a final dividend for 2011 of EUR 2.10 euros per share in addition to the EUR2.10 per share interim dividend paid last September. Shareholders may chose to receive this final dividend by way of scrip issue or in cash. The overall dividend for 2011 amounts to EUR 4.20 EUR per share.

In the event of payment by scrip issue, the issue price of the new shares is set at EUR 31.24 corresponding to 90% of the average closing share price for the 20 days preceding the 24 May, minus the amount of the final dividend.

The ex dividend date is 31 May 2012 and payment will be made on 25 June 2012. The option period for acceptation of the dividend in shares is from 31 May to 15 June 2012 inclusive.

The AGM authorized the Board to offer the same payment alternative in the event of an interim dividend being proposed for 2012.

2012 Calendar: - 25 June: final pay-out of 2011 dividend * 26 July: half-year results

The 2011 annual report including the first corporate sustainability report is available on the company's website.

About Société de la Tour Eiffel
A « SIIC » quoted on the Euronext Paris Exchange, the company pursues a strategy focused on the ownership and the development of quality office and business space capable of attracting a wide range of tenants in both established and emerging locations. The company's portfolio stands close to 1 billion Euros of assets spread evenly between the Paris area and the regions. Société de la Tour Eiffel is listed on NYSE Euronext Paris (compartment B) - ISIN code : 0000036816 - Reuters : TEIF.PA - Bloomberg EIFF.FP

24 May 2012 AGM outcome:

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Source: Société de la Tour Eiffel via Thomson Reuters ONE [HUG#1615645]

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