NEUILLY-SUR-SEINE, France--(BUSINESS WIRE)--Regulatory News:
M6 METROPOLE TELEVISION (Paris:MMT):
Further to the press release of 24 March 2020 regarding the impact of the Coronavirus on the business, and given the lack of visibility in relation to the recovery conditions that will follow the end of the lockdown, the Executive Board has asked the Supervisory Board to amend the resolution to the upcoming Shareholders’ General Meeting regarding the allocation of net profit, in order to suspend the payment of a dividend in respect of the 2019 financial year.
At its meeting of 1 April 2020, the Supervisory Board approved this amendment to the agenda of the Combined Shareholders’ General Meeting.
The Company reserves the right to reassess this position in the autumn in line with the evolution of the overall situation and its impact on the business.
This precautionary decision means that the Group’s financing structure can be mobilised in order to deal with the decline in its revenue and ensure it can take full advantage of the economic recovery that will follow the end of the pandemic. Due to its sound balance sheet, the Group is confident in its ability to bounce back at the end of this lockdown period.
Moreover, the Annual General Meeting will take place on Tuesday 23 June 2020. Arrangements for participation (attendance in person or via video-link) will be decided in due course, depending on the health situation and legal requirements.
The full agenda for the Annual General Meeting of 23 June will be submitted to the next Supervisory Board meeting which will take place on Tuesday 28 April 2020 and will notably review the financial results for the first quarter to be published on the same day. Up-to-date information regarding the advertising outlook and the cost savings plan will be provided at that time.