BETER BED HOLDING N.V. At the Annual General Meeting Mr A.J.G.P.M. Kruijssen was appointed from 26 April 2018 as Statutory Director in the position of CEO. Pursuant to the provisions of Article 18 of the Articles of Association of Beter Bed Holding N.V., John Kruijssen is appointed for a term ending after the first Annual General Meeting to be held four years after his appointment.
The composition of the Management Board of Beter Bed Holding N.V. as per 26 April 2018 is as follows: John Kruijssen (CEO) and Bart Koops (CFO).
Supervisory Board composition
In accordance with the Corporate Governance Code provisions Mr A.J.L. Slippens has stepped down as member of the Supervisory Board. Beter Bed Holding and the Supervisory Board appreciate the way in which Mr Slippens has committed himself as a member of the Supervisory Board and as Chairman of the Remuneration Committee and thank him for his contribution.
As per 26 April 2018 Mr H.C.M. (Huub) Vermeulen was appointed as successor to Mr Slippens as member of the Supervisory Board of Beter Bed Holding for a term ending after the first Annual General Meeting to be held four years after his appointment.
In order to guide the transition to a new composition of the Supervisory Board, it was decided at the Annual General Meeting on 26 April 2018 to extend the term of Mr D.R. Goeminne as Chairman of the Supervisory Board by one year, through the Annual General Meeting in 2019.
As of today's date, the members of the Supervisory Board are Mr D.R. Goeminne (Chairman), Ms E.A. de Groot, Mr W.T.C. van der Vis and Mr H.C.M. Vermeulen.
Declaration of dividend
The Annual General Meeting of Beter Bed Holding N.V. held on 26 April 2018 declared a final dividend of € 0.03 per ordinary share of nominally € 0.02 each for the 2017 financial year.
An interim dividend of € 0.34 was paid in November 2017. The total dividend for 2017 consequently amounts to € 0.37, resulting in a payout ratio of 86%. A dividend of € 0.74 was paid for 2016 (payout ratio: 85%). The final dividend will be paid entirely in cash.
The following schedule will apply to the payment of the dividend:
30 April 2018 listing ex-dividend
2 May 2018 record date
17 May 2018 payment of dividend
Dividend policy
Beter Bed Holding N.V.'s dividend policy focuses on maximising shareholder returns whilst maintaining a healthy capital position. Subject to conditions, the company's objective is to pay out at least 50% of the realised net profit to the shareholders. This payment will be made in the form of an interim dividend following publication of the third-quarter figures and a final dividend following the approval of the dividend proposal by the Annual General Meeting. This system makes it possible to spread out payment of the dividend evenly over the year. The payment of the dividend may never result in the company's solvency falling below 30% on any publication date. Furthermore, the net interest-bearing debt/EBITDA ratio may not exceed two.
Profile
Beter Bed Holding is a European retail organisation that strives to offer its customers a comfortable and healthy night's rest every night at an affordable price. The retail formats ensure products of good quality, offer customers the best advice and always the best possible deal. Beter Bed Holding is also active as a wholesaler of branded products in the bedroom furnishing sector via its subsidiary DBC International (M line).
The current total number of stores is 1,191. In 2017, the company achieved revenue of € 416.4 million and an EBITDA of € 27.5 million.
For more information:
John Kruijssen Bart Koops
CEO CFO
+31 (0)413 338819 +31 (0)413 338819
+31 (0)6 13211011 +31 (0)6 46761405
john.kruijssen@beterbed.nl bart.koops@beterbed.nl
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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Beter Bed Holding NV via Globenewswire
