Listing & financing growth strategy
As of November 24th, TMC is officially listed on Alternext Amsterdam. The introduction price of the shares has been set on EUR 12.75 for a total of 449.845 new shares. The yield of the listing is EUR 5.7 million and will be used for financing and realising the growth strategy. Moreover a listing on Alternext positively contributes to the brand awareness and appearance of TMC in the market. Given the size of TMC and the characteristics of Alternext (aiming at small and midsized companies) Alternext is a logical choice to attract capital.
CEO Thijs Manders: “With regards to TMC and our unique formula of entrepreneurship the feedback during the roadshows was more than positive. Apparently the Dutch investors are relatively unfamiliar with the phenomenon Alternext yet. The yield of the transaction however gives us the possibility to realize our future plans. Looking at the success of Alternext in Paris, I have faith that also Dutch investors will add Alternext to their investment portfolio soon.”
The yield of this transaction will be used for (i) acquisitions; (ii) expansion of existing business cells; (iii) starting up new business cells; and (iv) increasing the geographical spread. Because of this all it is possible to accelerate our strategic growth plans and to strengthen our position as a niche player in secondment services, active in R&D and ICT. We have established distinguishing acquisition criteria, markets and competencies established to accelerate value creation of our business.
Dividend policy
TMC intends to distribute part of the future profit as dividend. In addition, part of the free reserves will be set aside to finance further growth and development of the business. Future dividend distributions will be proposed annually by the Board of Directors subject to the Supervisory Board’s approval, taking into account various factors, including the financial results, cash requirements, growth opportunities and a healthy financial position.
For 2008 TMC Group will distribute Eur 0.40 per ordinary share and ordinary class A share in cash as dividend. The remaining part of the profit for the financial year will be added to the other reserves.
Click here for the financial calendar.