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Aveva's shareholders approve OSIsoft acquisition

By BFN News | 01:33 PM | Tuesday 24 November, 2020

Software company Aveva Group has announced that the proposed acquisition of OSIsoft, which manufactures application software for real-time data management, was approved at its annual general meeting on 24 November. 

The resolution on the proposed acquisition was voted for by 99.996% of the shareholders who voted. The votes casted represented 89.58% of the share capital, while 5,510 votes were withheld. 

The resolution included authorising the directors of Aveva to allot shares up to an aggregate nominal amount of £5,000,000 pursuant to or in connection with the acquisition and/or the rights issue.  Also, it asked shareholders to clarify that the merger's reserve and reverse acquisition reserve could be counted as reserves for the purposes of Aveva's borrowing limits.

On 5 November, Aveva announced that it intended to pay an interim dividend of 15.5 pence per share to be adjusted to reflect the bonus element of the rights issue. Aveva now announces that the adjusted amount shall be 12.4 pence per share using a bonus factor of the rights issue of 0.80, payable on 5 February 2021 to shareholders on Aveva's register of members on 8 January 2021.

At 1:33pm: (LON:AVV) Aveva Group PLC share price was 0p at 4105p

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