Subjects: HEALTH, ANNUAL MEETINGS, MISCELLANEOUS, MISCELLANEOUS
Philips to convene Extraordinary General Meeting of Shareholders
May 7, 2020
Amsterdam, the Netherlands ? Royal Philips (NYSE: PHG, AEX: PHIA) today announced that it will convene an Extraordinary General Meeting of Shareholders (EGM) and publish the agenda with explanatory note shortly. The sole purpose of the EGM is submit to Philips' shareholders the revised proposal, as announced on April 20, 2020, to declare a distribution of EUR 0.85 per common share against the net income for 2019, in shares only.
The EGM is scheduled to be held on June 26, 2020, beginning at 11:00 hours CET. To protect the health and safety of all participants in connection with COVID-19 and considering the temporary legislative measures from the Dutch government, shareholders are invited to submit their voting instructions and follow the meeting via the live webcast only, which will be available on Philips' website.
Upon convocation, the agenda with explanatory note and other information relevant for the EGM will be available here.
If the above dividend proposal is adopted, the dividend timetable will be as follows:
| Ex-dividend date | June 30, 2020 |
| Dividend record date | July 1, 2020 |
| Announcement of ratio and number of dividend shares | July 6, 2020 |
| Payment date | As from July 7, 2020 |
The number of share dividend rights entitled to one new common share will be determined based on the volume-weighted average price of all traded common shares of Koninklijke Philips N.V. at Euronext Amsterdam on June 30, and July 1 and 2, 2020. The company will calculate the number of share dividend rights entitled to one new common share, such that the gross dividend in shares would be approximately equal to EUR 0.85.
For further information, please contact:
Ben Zwirs
Philips Global Press Office
Tel.: +31 6 15213446
E-mail: [email protected]
Derya Guzel
Philips Investor Relations
Tel.: +31 20 59 77055
E-mail: [email protected]
About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people's health and enabling better outcomes across the health continuum from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips' health technology portfolio generated 2019 sales of EUR 19.5 billion and employs approximately 81,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter
Forward-looking statements
This release contains certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. Examples of forward-looking statements include statements made about the strategy, estimates of sales growth, future EBITA, future developments in Philips' organic business and the completion of acquisitions and divestments. By their nature, these statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these statements.
This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
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