Symphony International Holdings Ltd Dividend Declaration (0115D)

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RNS Number : 0115D

Symphony International Holdings Ltd

24 April 2017

Symphony International Holdings Ltd

April 24, 2017

Not for distribution, directly or indirectly, in or into the United States or any jurisdiction in which such distribution would be unlawful

Symphony International Holdings Limited announces dividend payment

The Board of Directors (the "Board") of Symphony International Holdings Limited (the "Company" or "Symphony") is pleased to declare a dividend payment of approximately US$22.0 million, equivalent to 3.50 cents per share.

As in past years, the Board is declaring this dividend having considered its dividend policy in light of divestments, dividends received from investee companies and the Company's liquidity.

The dividend, payable to shareholders & option holders, will be 3.50 cents per share comprised of an ordinary dividend of 2.50 cents per share and an extraordinary dividend of 1.0 cent per share, which amounts to approximately US$15.7 million and US$6.3 million, respectively.

Barring unforeseen circumstances, the Board intends to pay ordinary dividends annually and extraordinary dividends as and when the Board feels it would be appropriate to do so. In particular, it is anticipated that ordinary dividends will be covered to a certain extent by dividends and interest from investee companies paid to the Company. Extraordinary dividends, will be one-off in nature and if paid in the future, will depend on various factors including but not limited to excess liquidity and divestments. The Board will consider paying, if appropriate, an incremental extraordinary dividend during 2017.

Pierangelo Bottinelli, Chairman of Symphony said: "We have seen the discount that the Company's shares trade to their NAV narrow since the introduction of the dividend policy in 2014. The continuation of the dividend policy and the share buyback demonstrates the Board's resolve to narrow the discount to NAV further. Since 2014, the Company has paid 18.35 cents cumulatively (including the dividend in this announcement) to enhance the attractiveness to investors as well as to reward current shareholders."

Dividend Timetable

--Distribution amount per Share: 3.50 cents

--Ex-dividend date: 4 May 2017

--Dividend record date: 5 May 2017

--Payment date: 29 May 2017

FOR FURTHER INFORMATION

Anil Thadani - Symphony Asia Holdings (Pte.) Ltd. ([phone])

ABOUT SYMPHONY

Symphony is a London listed strategic investment company that invests in consumer businesses in the healthcare, hospitality and lifestyle ("HH&L") sectors (including branded real estate developments), which are principally in Asia. It offers a way for investors to gain exposure to the rising disposable incomes and wealth in fast growing economies. Symphony's objective is to provide superior capital growth by investing in high quality companies and forming long-term business partnerships with talented entrepreneurs. Symphony is managed by Symphony Investment Managers Limited, which has a team of investment professionals with a broad range of expertise - many of them have been working in Asia for more than 25 years. For more information please visit our website at www.symphonyasia.com

IMPORTANT INFORMATION

This announcement is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States or any other jurisdiction into which the publication or distribution would be unlawful. These materials do not constitute an offer to sell or issue or the solicitation of an offer to buy or acquire securities in the United States or any other jurisdiction in which such offer or solicitation would be unlawful. The securities referred to in this document have not been and will not be registered under the securities laws of such jurisdictions and may not be sold, resold, taken up, transferred, delivered or distributed, directly or indirectly, within such jurisdictions.

No representation or warranty is made by the Company as to the accuracy or completeness of the information contained in this announcement and no liability will be accepted for any loss arising from its use.

This announcement is for information purposes only and does not constitute an invitation or offer to underwrite, subscribe for or otherwise acquire or dispose of any securities of the Company in any jurisdiction. All investments are subject to risk. Past performance is no guarantee of future returns. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decisions.

This announcement is not an offer of securities for sale into the United States. The Company's securities have not been, and will not be, registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an exemption from registration. There will be no public offer of securities in the United States.

Statements contained in this announcement regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. The information contained in this document is subject to change without notice and, except as required by applicable law, neither the Company nor the Investment Manager assumes any responsibility or obligation to update publicly or review any of the forward-looking statements contained herein. You should not place undue reliance on forward-looking statements, which speak only as of the date of this announcement.

The Company and the Investment Manager are not associated or affiliated with any other fund managers whose names include "Symphony", including, without limitation, Symphony Financial Partners Co., Ltd.

End of Announcement

This information is provided by RNS

The company news service from the London Stock Exchange

END

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April 24, 2017 02:00 ET (06:00 GMT)