March 14, 2017 / 1:43 PM / 6 months ago

BRIEF-Bechtle announces scrip issue, share-buyback

March 14 (Reuters) - Bechtle AG

* Resolved today to propose to Annual General Meeting on June 1 to increase issued capital of company from corporate funds by so-called scrip issue to existing shareholders of company

* One new no-par share is to be issued to shareholders for each existing no-pare share

* Both issued capital and number of issued shares are to be doubled

* However proportionate amount of individual shares in issued capital is to continue to be 1.00 euros ($1.06)

* Market price level of individual Bechtle shares will reduce accordingly, without affecting real value of shareholders’ shareholdings

* Will also propose to AGM to distribute a dividend of 1.50 euros to shareholders for fiscal year 2016

* Took policy decision to start a share buyback programme

* Buy-back is to begin at earliest after conclusion of capital increase out of corporate funds and scrip issue Source text for Eikon: Further company coverage: ($1 = 0.9406 euros) (Gdynia Newsroom)

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