Citycon Board’s asset distribution proposal to the Annual General Meeting

CITYCON OYJ   Stock Exchange Release   6 February 2020 at 09:05 hrs

The Board of Directors of Citycon Oyj has decided to propose to the Annual General Meeting to be held on 17 March 2020 of the asset distribution as follows.

The Board of Directors proposes that based on the balance sheet to be adopted for the financial period ended on 31 December 2019, no dividend is distributed by a resolution of the Annual General Meeting.

Nonetheless, the Board of Directors proposes that the Board of Directors be authorized to decide in its discretion on the distribution of dividend and assets from the invested unrestricted equity fund in the manner set forth below.

Based on this authorization, the maximum amount of dividend to be distributed shall not exceed EUR 0.05 per share and the maximum amount of equity repayment distributed from the invested unrestricted equity fund shall not exceed EUR 0.60 per share. Based on the authorization, the company could distribute a maximum of EUR 8,899,926.25 as dividends and EUR 106,799,115.00 as equity repayment.

The authorization is valid until the opening of the next Annual General Meeting.

Unless the Board of Directors decides otherwise for a justified reason, the authorization will be used to distribute dividend and/or equity repayment four times during the period of validity of the authorization. In this case, the Board of Directors will make separate resolutions on each distribution of the dividend and/or equity repayment so that the preliminary record and payment dates will be as stated below. Citycon shall make separate announcements of such Board resolutions.

Preliminary payment date             Preliminary record date
31 March 2020                             19 March 2020
30 June 2020                                22 June 2020
30 September 2020                      23 September 2020
30 December 2020                       18 December 2020

The dividend and/or equity repayment based on the resolution of the Board of Directors will be paid to a shareholder registered in the company’s shareholders’ register maintained by Euroclear Finland Ltd on the record date of the dividend and/or equity repayment.

Citycon publishes the notice to the Annual General Meeting as a stock exchange release and on the company's website separately.

Espoo, 5 February 2020

CITYCON OYJ

Board of Directors

For further information, please contact:

Eero Sihvonen
Executive VP and CFO
Tel. +358 50 557 9137
eero.sihvonen@citycon.com

Valtteri Piri
IR and Legal Specialist
Tel. +358 50 570 1022
valtteri.piri@citycon.com

Citycon Oyj is a leading owner, manager and developer of urban, grocery-anchored shopping centres in the Nordic region, managing assets that total approximately EUR 4.4 billion. Citycon is the number one shopping centre owner in Finland and among the market leaders in Norway, Sweden and Estonia. Citycon has also established a foothold in Denmark.

Citycon Oyj has investment-grade credit ratings from Moody’s (Baa3) and Standard & Poor’s (BBB-). Citycon Oyj’s shares are listed on Nasdaq Helsinki Ltd. stock exchange.

For more information about Citycon Oyj, please visit www.citycon.com.

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