ENCAVIS AG: Majority of shareholders (54.4%) prefer new Encavis shares to cash dividend

Hamburg, 17 June 2019 - The majority of shareholders in Encavis AG (ISIN: DE0006095003, Prime Standard), the SDAX-listed, Hamburg-based solar and wind park operator, decided to receive new shares instead of a cash dividend, with 54.4 per cent opting for the new shares. A total of 2,010,807 new shares will therefore be issued and a cash dividend of EUR 19,112,659.95 distributed to shareholders. After the registration in the Commercial Register, approx. 131.5 million Encavis AG shares will be listed on the stock exchange. The scrip dividend offered for the past fiscal year 2018 already represented the sixth time in a row that the company has offered this option. Shareholders were given the choice of whether they would like to receive a cash dividend of EUR 0.24 per share, new shares at a ratio of 35:1 (shareholders receive one new share for each 35 shares they hold) or a combination of the two options.

"We are very pleased that the majority of our shareholders opted for the share dividend - a strong sign of confidence in the potential of our profitable growth path, which at the same time generates further liquidity for our investments. Of course, we will continue to let our shareholders participate in Encavis AG"s ongoing success story. As already announced in March 2017, we intend to pay a dividend of EUR 0.30 per share in 2021. With the scrip dividend, we continue to grant our shareholders the maximum flexibility in the years ahead," says Dr Christoph Husmann, CFO of Encavis AG, welcoming the good rate of acceptance for the share dividend.

The payment of the cash dividend amounting to EUR 0.24 per dividend-entitled share is expected to be made by the custodian bank on 18 June 2019. The new shares are scheduled to be booked to the shareholders" securities accounts on 26 June.