Euronext News Today – Vestas’ board gives nod to 1:5 share split plan

April 9 (Renewables Now) – Danish wind turbine maker Vestas Wind System A/S (CPH:VWS) on Thursday said its board of directors have greenlit plans for a 1-for-5 share split, to be carried out this month.

The proposal was approved at the company’s annual general meeting. In order to enable the share split, the denomination of Vestas’ shares will change from DKK 1.00 (USD 0.1599/EUR 0.1344) to DKK 0.01 or multiples thereof, which will not affect the manufacturer’s underlying value.

The decision to split each existing Vestas share of nominally DKK 1 into five new shares of DKK 0.20 will result in dividing the company’s DKK-202-million share capital into roughly one billion shares of DKK 0.20 each. Each split share will carry one vote.

The first day of trading of the new shares with a new ISIN code on Nasdaq Copenhagen will be April 27. The code change will become effective on Euronext’s VP Securities on the next day.

Vestas noted that its ticker symbol will be kept unchanged.

(DKK 1.0 = USD 0.160/EUR 0.134)