By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-World’s leading cement, aggregates and concrete firm LafargeHolcim early Thursday said its offering shareholders an exceptional scrip dividend of one new LafargeHolcim share for every twenty held.

This is coming on the heels of an Extraordinary General Meeting (EGM) held May 8, 2015, where  the Group’s shareholders voted in favour of an authorised share capital increase based on which the distribution of the scrip dividend is authorised.

“The last date to trade LafargeHolcim Ltd shares “cum” scrip dividend will be Monday, September 7, 2015. As of Tuesday, September 8, 2015, LafargeHolcim Ltd shares will trade “ex” scrip dividend. The
settlement and delivery of the newly issued shares will occur as from September 10, 2015,” the company said in a statement.

It added no fractional LafargeHolcim shares will be issued. As a consequence, shareholders entitled to receive a number of the company’s shares not corresponding to a whole number will receive the rounded-down whole number of Lafarge shares and the balance will be paid in cash.

LafargeHolcim affirmed that an application has been made for admission of the new company’s shares to trading on the SIX Swiss Exchange in Zurich and on Euronext Paris. “The newly issued shares of LafargeHolcim Ltd will carry the same rights and obligations as the existing LafargeHolcim Ltd shares and will be fully assimilated with them ,” the world’s leader in the building materials industry added.

The firm says for the purpose of the scrip dividend, 28,870,252 new LafargeHolcim shares, representing five (5) percent of the company’s share capital and voting rights as of September 3, 2015, will be issued.

The company said as from September 16, 2015, it will make payment of fractional amounts in cash.