On 16 January 2007, OnVista AG has paid a one-time special dividend from reserves in the amount of € 3.75 per share. The annual general meeting on 27 June 2006 unanimously adopted the proposal of the Executive Board and the Supervisory Board.
For reasons related to the Stock Corporation Law, the dividend could not be paid out before January 2007.
| One-time special distribution | |
|---|---|
| * Shares in the proprietary possession of OnVista AG did not carry dividend rights. | |
| Dividend per share (proposal), in € | 3.75 |
| Dividend per share (adopted), in € | 3.75 |
| Total volume distributed,* in € | 25,052,103.75 |
| Date of distribution | 16 January 2007 |
| Deadline for the subscription right | 15 Januar 2007, at market close |
| Place of payment | Sparkasse KölnBonn |
When exactly has the special dividend been distributed?
On 16 January 2007.
| Steps up to the time the special distribution was effected: | ||
|---|---|---|
| 1 | Announcement by the Executive Board and the Supervisory Board to propose a special distribution to the AGM (ad hoc announcement) |
16 March 2006 |
| 2 | The Executive Board and the Supervisory Board propose the special distribution to the annual general meeting for passing (convening of AGM) |
2 May 2006 |
| 3 | Annual general meeting adopts the special distribution (AGM resolution) | 27 June 2006 |
| 4 | Application for entry of the AGM resolution in the Register of Companies | 28 June 2006 |
| 5 | Entry of the AGM resolution in the Register of Companies | 4 July 2006 |
| 6 | Entry into the Register of Companies is published in the "Electronic Federal Gazette" (Bundesanzeiger) |
15 July 2006 |
| 7 |
Period of protection against creditors expires |
15 January 2007 |
| 8 | Distribution | 16 January 2007 |
At what point in time did I need to hold shares in order to benefit from the special distribution?
In this case, the same procedure was applied as in the case of any regular dividend payment. Shareholders who held their shares immediately prior to distribution were entitled to receive the dividend.
The deadline for the subscription right was set at market close on the last day of trading on the stock exchange prior to the day of distribution, i.e. on 15 January 2007 at market close. You received € 3.75 for every share that you owned at that time.
The day of the annual general meeting was not relevant. The only prerequisite was that you held your shares at the time of the set date.
Is the special distribution exempt from tax?
Please understand that we are not able to provide any legally binding information for individual shareholders in this respect. This applies in particular to shareholders outside of Germany.
In general, the following applies for shareholders who are subject to taxation under German law: In contrast to a regular dividend, a special distribution like the one by OnVista is generally not subject to capital gains tax. Because the special distribution did not originate from accumulated income but from capital surplus (restitution of capital invested).
This is due to the fact that the issuing proceeds from our stock market flotation in 2000 flowed into a fiscal deposit account. Part of this capital surplus was converted into capital stock with the AGM resolution of 27 June 2006 (=capital increase). In a second step, the capital stock was reduced by the same amount. The amount obtained from the capital reduction has now been distributed to the shareholders.
As a result, the special distribution is exempt from tax for the vast majority of private investors in Germany.
However, there are a few exceptions. Please check your personal tax situation and consult your tax advisor in the event of any lack of clarity.
Do you have any other questions?
Please contact our Investor Relations department by email or phone. Click here for contact information.