March 25, 2020 / 7:44 AM / in 12 days

BRIEF-Lagardere Suspends Its Market Guidance And Changes Dividend Proposal

March 25 (Reuters) - LAGARDERE SCA:

* SUSPENSION OF MARKET GUIDANCE AND CHANGE IN DIVIDEND PROPOSED TO GENERAL MEETING OF 5 MAY 2020, IN LIGHT OF COVID-19 PANDEMIC

* EFFECTS OF EPIDEMIC HAVE SINCE EXTENDED TO LAGARDÈRE TRAVEL RETAIL’S OTHER OPERATIONS AND, TO A LESSER EXTENT, TO REST OF GROUP’S ACTIVITIES

* IN VIEW OF UNCERTAINTY OVER DURATION AND SCALE OF EPIDEMIC AND GOVERNMENT LOCKDOWNS AND CLOSURES, GROUP IS UNABLE TO ASSESS ITS IMPACTS PRECISELY AND RELIABLY

* IT IS SUSPENDING MARKET GUIDANCE ANNOUNCED ON 27 FEBRUARY 2020, AND WILL PROVIDE AN UPDATE AS AND WHEN IT IS ABLE TO

* MANAGING PARTNERS HAVE DECIDED TO MODIFY PROPOSED ORDINARY DIVIDEND FROM EUR 1.30 TO EUR 1 PER SHARE, AND WITHDRAW STOCK DIVIDEND OPTION Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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