The Jumbo Group has announced plans to hold an Extraordinary General Meeting (EGM) on March 19, 2025. The meeting will address several issues, including a proposed cash distribution to shareholders.
The Board of Directors reviewed the progress of resolutions from the EGM held on September 26, 2024, and the subsequent Board resolution on September 30, 2024. These resolutions pertain to a share buyback program under which Jumbo acquired 1,633,919 shares by February 20, 2025. This represents about 1.20% of the total shares.
In addition to these developments, Jumbo reported a sales increase of approximately 6% in 2024 compared to the previous year.
At the upcoming EGM, shareholders will vote on an extraordinary cash distribution proposal. “Considering the number of treasury shares currently held today by the Company,” said a spokesperson for Jumbo Group, “the total amount of EUR 63.499.089,53 corresponds to a gross amount of EUR 0.4724 per share.”
The final distribution per share may be adjusted upwards based on the number of treasury shares at the record date since these shares are not eligible for cash distribution payments. The excess funds from treasury shares will increase distributions to other shareholders.
Should shareholders approve this measure at the EGM, key dates have been set: March 24 as the cut-off date for rights; March 26 as the record date; and March 31 as the payment date for distributions.
