Skip to main content

Robit Plc: ROBIT CHANGES ITS PREVIOUS PROPOSAL FOR DISTRIBUTION OF FUNDS

Written by Customer Service on . Posted in Public Companies.

ROBIT PLC       STOCK EXCHANGE RELEASE      27 MARCH 2020 AT 11.40ROBIT CHANGES ITS PREVIOUS PROPOSAL FOR DISTRIBUTION OF FUNDSDue to the uncertainty in the industry and difficulty to forecast the outlook caused by Coronavirus Pandemic, Robit announced on March 24, that the company will renounce its guidance for 2020.
For the reasons mentioned above the company wants to ensure good cash availability even in the event of an exceptional market situation. Hence Robit Plc’s Board of Directors has made a decision to change the previous proposal for the Annual General Meeting regarding the distribution of funds. According to the defined proposal the Board of Director’s proposes to the Annual General Meeting that it would authorize the Board of Director’s to decide subsequently on the possible distribution of funds for the shareholders, after he market disruption caused by the Coronavirus Pandemic is cleared up. The possible distribution of funds, maximum EUR 0,03 per outstanding share would be paid from the company’s distributable funds in case the company’s financial situation supports that.Robit updates the company’s status in this challenging market situation as needed to ensure that the customers, shareholders and other stakeholders will be provided with as current information as possible. The company’s situation and position is stable in the current circumstances. Despite the Pandemic, the order book and invoicing base for the first quarter of the year has remained positive, continuing the good development of the latter part of 2019. The cash situation has also remained unchanged.“We are preparing for the uncertainty caused by the Pandemic in the industry and the possible slowdown in demand. For this reason, we have initiated measures to increase the flexibility of the cost structure. We announced already on March 25th 2020  possible layoffs and other measures to increase flexibility”, states CEO Tommi Lehtonen.ROBIT PLCTommi Lehtonen, CEOFor further information, please contact:
Tommi Lehtonen, CEO
Tel. +358 40 724 9143
tommi.lehtonen@robitgroup.comRobit is a strongly internationalized growth company servicing global customers and selling drilling consumables for applications in mining, construction and contracting, tunneling and well drilling. The company’s offering is divided into two product and service ranges: Top Hammer and Down-the-Hole. Robit has 13 of its own sales and service points throughout the world as well as an active sales network in 115 countries. Robit’s manufacturing units are located in Finland, South Korea, Australia and the UK. Robit’s shares are listed on NASDAQ Helsinki Ltd. Further information is available at: www.robitgroup.com 
DISTRIBUTION:
Nasdaq Helsinki
Key media
www.robitgroup.com
Further information:

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.