It’s already been a big week for Vivendi – the majority owner of Universal Music Group – after it confirmed the signing of an agreement with Pershing Square Tontine Holdings, Ltd. (PSTH) for the sale of 10% of the share capital of Universal Music Group (UMG BV) for approximately $4bn.
Tuesday, June 22, meanwhile saw Vivendi’s Annual General Shareholders’ Meeting take place, led by Yannick Bolloré with a quorum of 68.99% of shareholders.
The meeting saw shareholders approve all resolutions submitted to the vote, including those requiring a two-thirds majority, among which the resolution authorising the Management Board to make a public share buyback offer (OPRA) for up to 50% of the share capital.
An official Vivendi press release stated that the the shareholders “overwhelmingly approved the distribution of 60% of Universal Music Group (UMG) shares with a record level of 99.9% positive votes, demonstrating their full support for the recommended strategic approach and the options chosen by the Management Board to implement this transaction.”
The listing of the company on Euronext Amsterdam could take place on September 21, 2021.
The shareholders approved the payment of an ordinary dividend of €0.60 per share with respect to fiscal year 2020. The dividend will be paid as from June 25, 2021, with an ex-dividend date of June 23, 2021.