Coca-Cola Hellenic announces proposal for a capital return of €0.34 per share and other transactions
Athens, Greece – 9 May 2012 – Coca-Cola Hellenic Bottling Company S.A. (Coca-Cola Hellenic, the Company) announces a proposed capital return to its shareholders of €0.34 per share. The proposal comprises a decrease in the par value of the Company’s shares by approximately €125 million or €0.34 per share which will be paid to shareholders. The proposed transaction will be financed from the cash position of the Company and is subject to shareholder and regulatory approvals.
As a separate item, Coca-Cola Hellenic also announces a proposal for a further decrease in the par value of the Company’s shares by approximately €55 million or €0.15 per share, in order to extinguish accumulated losses in an equal amount.
Coca-Cola Hellenic’s Board of Directors endorsed the plan for both transactions in its meeting on 8 May 2012. The Board of Directors believes that the proposed recapitalisation is appropriate, as it reflects the Company’s strong and sustained cash flow generation. At the same time it will enable Coca-Cola Hellenic to maintain an efficient balance sheet.
As previously announced Coca-Cola Hellenic’s Annual General Meeting will be held on 25 June 2012 where both proposals will be presented to the Company’s shareholders. If approved, the capital return is expected to be paid out on 8 August 2012 with a record date (the date at which registered shareholders will qualify for the return of capital) on 3 August 2012.
About Coca-Cola Hellenic
Coca-Cola Hellenic is the second-largest bottler of products of The Coca-Cola Company in terms of volume with sales of more than 2 billion unit cases. It has broad geographic footprint with operations in 28 countries serving a population of more than 570 million people. Coca-Cola Hellenic offers a diverse range of ready-to-drink non-alcoholic beverages in the sparkling, juice, water, sport, energy, tea and coffee categories. Coca-Cola Hellenic is committed to promoting sustainable development in order to create value for its business and for society. This includes providing products that meet the beverage needs of consumers, fostering an open and inclusive work environment, conducting our business in ways that protect and preserve the environment and contribute to the socio-economic development of our local communities. Coca-Cola Hellenic‘s shares are listed on the Athens Exchange (ATHEX: EEEK), with a secondary listing on the London Stock Exchange (LSE: CCB). Coca-Cola Hellenic’s American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE: CCH). Coca-Cola Hellenic is included in the Dow Jones Sustainability and FTSE4Good Indexes. For more information, please visit www.coca-colahellenic.com