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Tivoli A/S (TIV.CO)

Copenhagen - Copenhagen Real-time price. Currency in DKK
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888.000.00 (0.00%)
At close: 4:59PM CEST
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Previous close888.00
Open888.00
Bid886.00 x 0
Ask894.00 x 0
Day's range870.00 - 894.00
52-week range620.00 - 900.00
Volume553
Avg. volume863
Market cap5.076B
Beta (5Y monthly)0.37
PE ratio (TTM)N/A
EPS (TTM)-27.34
Earnings date12 Aug 2021 - 16 Aug 2021
Forward dividend & yieldN/A (N/A)
Ex-dividend date24 Apr 2019
1y target estN/A
  • Globe Newswire

    Tivoli A/S – Course of the Annual General Meeting

    Tivoli A/S held the Annual General Meeting on Thursday 29 April 2021 with the agenda as attached. The annual report was approved, including the Board of Directors' proposal not to distribute dividends due to dividend limitations caused by compensation received for fixed cost and due to the company's negative financial results. The following proposals from the Board of Directors were approved: The Board of Directors' remuneration for 2021. The remuneration report was approved. The current members of the Board of Directors elected by the Annual General Meeting, Tom Knutzen, Claus Gregersen, Mads Lebech and Ulla Brockenhuus-Schack were re-elected. In addition, the two employee representatives, John Høegh Berthelsen and Tue Krogh-Lund, are members of the Board of Directors. As proposed by the Board of Directors, PwC was elected as auditor for Tivoli A/S. At the subsequent meeting of the Board of Directors, the Board of Directors elected Tom Knutzen as chairman and Mads Lebech as deputy chairman. Yours faithfully, Susanne Mørch Koch CEO For shareholders of Tivoli A/S General Meeting in Tivoli The board of directors of Tivoli A/S hereby convenes the company's annual general meeting on Thursday, April 29, 2021 at 13:30 CET. In view of the ban on assemblies issued and other recommendations from the authorities to prevent the spread of COVID-19, Tivoli's board of directors has decided to hold the annual general meeting as a completely electronic (virtual) general meeting. This is in accordance with Section 1 of the Danish Executive Order no. 2240 of 29 December 2020 which allows companies to conduct fully electronic general meetings even though it is not approved by the shareholders in advance nor stated in the company’s articles of association. Hence, shareholders will this year unfortunately not have the possibility to attend the general meeting in person. However, all shareholders may attend via a general meeting portal (VGM Portal), where shareholders may follow a livestream, submit questions/comments in writing and vote in case ballots are held. AGENDA The board of directors' report on the company's activities in the past year. Submission of annual report for approval. Resolution on the use of profits and coverage of loss in accordance with the approved annual report. Proposals from the board of directors or shareholders. Approval of the remuneration of the board of directors for 2021. Presentation of remuneration report for an advisory vote. Election of members to the board of directors. Election of auditor. AOB (any other business) Documents and review The agenda and the complete proposals as well as the documents to be presented at the general meeting including the annual report and the remuneration report have been submitted for inspection to the shareholders in Tivoli Box Office, 3, Vesterbrogade, 1630 Copenhagen V. Notice for the annual general meeting including links to the complete proposals, documents to be presented at the annual general meeting including the annual report and the remuneration report as well as forms for voting by letter and proxy are sent by e-mail to the company's listed shareholders and all other shareholders who have requested it. The annual report can be downloaded at https://www.tivoligardens.com/en/om/virksomheden/aktionaerinformation and picked up at Tivoli Box Office, 3, Vesterbrogade, 1630 Copenhagen V. In addition, the following documents and information have been published on the company's website https://www.tivoligardens.com/en/om/virksomheden/aktionaerinformation: (i) the notice, (ii) the total number of shares and voting rights on the date of the notice, (iii) the documents to be presented at the general meeting including the audited annual report, (iv) the agenda for the general meeting and the complete proposals, (v) forms for voting by letter and proxy, (vi) remuneration report and (vii) a user guide for electronic attendance. Share capital and voting rights The company's share capital amounts to DKK 57,166,600 divided into shares of DKK 10. Each share amount of DKK 10 gives one vote. With the share capital being divided into shares of DKK 10 each, the total number of shares is 5,716,660. The right to attend and vote at the general meeting belongs to shareholders who, no later Thursday 22 April 2021 at 23:59 CET, have had their shares registered in the register of shareholders or have contacted the company for entry in the register of shareholders, and this request has been received by the company. In addition, the shareholders must have registered their participation at the general meeting no later than 25 April 2021 at 23:59 CET. The company has appointed Danske Bank as the account-holding bank. The company's shareholders can consult Danske Bank regarding financial rights. Registration of electronic attendance Shareholders can from Wednesday 7 April 2021 until and including Sunday 25 April 2021 at 23:59 CET register their attendance in the general meeting electronically via the InvestorPortal on the company’s website https://www.tivoligardens.com/en/om/virksomheden/aktionaerinformation or via VP Securities A/S’ website www.vp.dk/agm. Once the registration has been made, the shareholder will receive a confirmation by email. The email contains a link to the VGM Portal as well as information about the actual conduct of the electronic general meeting. Technical requirements for attending an electronic general meeting To attend the general meeting each shareholder must have a computer, smartphone or tablet with a browser installed as well as an adequate and functioning internet connection meeting the below requirements: Browser The electronic general meeting can be attended in ‘evergreen browsers’ on PC/Mac, smartphone and tablet/iPad. ’Evergreen browsers’ (Edge, Chrome, Firefox and Opera) are browsers that update themselves to new versions automatically. Safari is also supported, even though it is not an ‘Evergreen browser’. Apple products The electronic general meeting will run in the tree latest main versions of the Safari browser on Mac, iPhone and iPad (Safari versions 12, 13 and 14). Shareholders with older Apple equipment which cannot update to a usable Safari version can install and use a Chrome browser. Internet connection The quality of the transmission will depend on the shareholders’ individual internet provider. Shareholders should, as a minimum, have 5-10 Mbit/s connection to achieve good transmission. Questions/comments prior to the general meeting In order to facilitate the handling on the day of the general meeting shareholders are encouraged to submit questions/comments to the items on the agenda in advance. Questions/comments will be read out by the Chairman of the general meeting and answered verbally during the general meeting. Shareholders are encouraged to send questions/comments prior to the general meeting to VP, Legal, Caroline Reiler at care@tivoli.dk no later than Sunday 25. April 2021 at 23:59 CET. How the electronic general meeting is held The general meeting is held via the VGM Portal. Shareholders must log into the portal in order to attend the general meeting. Here, shareholders will be able to live stream the general meeting, submit written questions/comments concerning the agenda items, and vote in any ballots. Webcast The general meeting is transmitted via live streaming (webcast) in the VGM Portal. Shareholders must log into the VGM Portal in order to follow the livestream. Questions/comments during the general meeting After presentation of the individual agenda items, it will as usual be possible to ask questions and submit comments concerning the proposals. This will take place in writing via the VGM Portal. Shareholders must log into the VGM Portal in order to ask questions and submit comments. Questions/comments will be read out and then answered verbally. Ballots If a ballot is to be held on an item of the agenda, this will be clearly stated on the VGM Portal. Shareholders must log into the VGM Portal in order to vote. Shareholders who have granted a power of attorney/voted by letter prior to the general meeting will not be able to vote during the general meeting. Voting by letter A vote can be cast per. letter prior to the general meeting using the material sent to the shareholders together with the notice for the general meeting. A postal vote must be received by VP Securities A/S no later than Wednesday 28 April 2021 at 23:59 CET. A vote cast per. letter cannot be revoked. Proxy Shareholders may vote at the general meeting by proxy to a named third party or to the board of directors (including proxy with voting instructions). The proxy must be in writing and dated and the published forms for voting by letter and proxy may be used. A proxy must be received by VP Securities A/S no later than Sunday 25 April 2021 at 23:59 CET. Adoption requirements An advisory ballot is held on item 5 on the agenda. Other items on the agenda must be passed by simple majority. GDPR In connection with the general meeting, Tivoli collects, processes and stores certain personal data. Reference is made to Tivoli’s personal data policy which is available at https://www.tivoligardens.com/en/om/behandling+af+personoplysninger. Copenhagen, 7 April 2021 Board of directors Tivoli A/S Attachment Tivoli AS - Stock Exchange no. 6. - Minutes of the Annual General Meeting 2021

  • Globe Newswire

    Tivoli A/S – Interim Report for the period 1 January – 31 March 2021

    The Supervisory Board of Tivoli A/S has adopted the Interim Report for the period 1 January – 31 March 2021. Results for the period 1 January – 31 March 2021 in outline: A revenue of DKK 16.6 million compared to DKK 111.2 million last year (-85%)An EBITDA of DKK -75.4 million compared to DKK -44.7 million last year.An EBIT of DKK -103.4 million compared to DKK -86.3 million last year. Adjusted for extraordinary write downs of DKK 11.4 million in 2020, the EBIT is DKK 28.5 million lower than last year.A profit before tax of DKK -106.3 million compared to DKK -88.8 million last year. Adjusted for the above mentioned write downs the profit before tax is DKK 28.9 million lower than last year. A profit after tax of DKK -82.9 million compared to DKK -69.3 million last year.An attendance figure of 24,000 attendants compared to 292,000 last year (-92%). Because of the uncertainty regarding the calculation of compensation for fixed costs, Tivoli has not recognized any compensation for fixed costs in the period 1 January - 31 March 2021. “The low level of activity at the beginning of 2021 must be seen in the light of the fact that all Tivoli's activities have been closed down in the first quarter of the year 2021 due to Corona restrictions. We are pleased that the restrictions have now been eased and that we can once again welcome guests to the Garden and offer a visit to one of our many restaurants. We are especially looking forward to the coming months, where we can present the guests with the many news in Tivoli, including Denmark's largest Scary House, Villa Vendetta, concerts and many new dining offers” says CEO, Susanne Mørch Koch. Outlook for 2021 The Corona pandemic and the associated restrictions are crucial framework conditions for Tivoli's activities, including the possibility of opening up Tivoli's activities and the level of activity, as they affect the number of foreign tourists in Copenhagen, the possibility of gatherings (qua assembly ban) and the Danes' desire for social contact. Tivoli still expects that the framework conditions in 2021 will continue to be significantly affected by the corona pandemic, even though the vaccination program has now been initiated. Tivoli's prepared activity calendar for 2021 implies an increasing level of activity in line with improving framework conditions and easing restrictions. The level of activity for 2021 is subject to a great deal of uncertainty due to the extraordinary situation. The expectations for 2021 presuppose that the restrictions are continuously eased, that more people are vaccinated, that tourists return to Copenhagen on an ongoing basis and that the Danes' desire for social contact is continuously increased. For 2021, Tivoli still expects revenue in the range of DKK 600-700 million. Expectations to profit Tivoli's previous profit expectations for 2021 were a loss before tax in the range of DKK 75 - 100 million. As mentioned above, Tivoli's expectations for revenue are unchanged - and costs remain at the same level as before, but there is significant uncertainty about the size of the expected compensation for fixed costs, as there is uncertainty about how the compensation is to be calculated. This uncertainty can affect Tivoli's compensation very significantly, which is why Tivoli has suspended its performance expectations. In the previous profit expectations, compensation for fixed costs amounted to approx. DKK 65 million. Tivoli is in dialogue with the Danish authorities regarding the calculation of compensation for fixed costs. The authorities state that there is a positive dialogue with the EU regarding the extension of the crisis provision, which in that case will result in Tivoli being able to receive compensation at the initial expected level. When it is possible for Tivoli to make a more detailed estimate of compensation for fixed costs, Tivoli will update its profit expectations. Best regards Tom Knutzen Susanne Mørch KochChairman CEO Contactperson: Head of press, Torben Plank tlf. 22237440 / tpl@tivoli.dk Attachments Tivoli AS - Stock Exchange Announcement no 5 - Q1 2021 1. quarter 2021 Tivoli Report UK

  • Globe Newswire

    Tivoli suspends its expectations for the result for 2021 due to uncertainty about compensation

    Tivoli suspends its expectations for the result for 2021 due to uncertainty about compensation Tivoli is now temporarily suspending the profit expectations for 2021, which the company announced in connection with the annual report for 2020. The expectation was a loss before tax in the range of DKK 75-100 million. The suspension is caused by significant uncertainty about the compensation for fixed cost that Tivoli can obtain. The level of activity in Tivoli in 2021 is highly affected by the corona pandemic and the associated restrictions which means that Tivoli is covered by the fixed-cost compensation packages. In the latest executive order for compensation of fixed cost for the period 1 March 2021 and onwards, the rules regarding the maximum support that companies can receive have been changed in relation to previously published executive orders. In addition, it must be clarified, among other things, to what extent the executive order has further consequences with retroactive effect, and whether the changes can be positively mitigated by other allocations. Tivoli has been and is in dialogue with the authorities regarding the calculation of compensation for fixed costs. There is thus uncertainty about how the compensation should be calculated, especially in relation to the support ceiling. This uncertainty can affect Tivoli's compensation very significantly and, on this background, Tivoli suspends its profit expectations. Tivoli's previous expectations for 2021 were revenue in the range of DKK 600-700 million, which is approx. 40% below the normal level - and a loss before tax in the range of DKK 75 - 100 million. Tivoli's expectations for revenue and costs remain at the same level as before, but there is significant uncertainty about the size of the expected compensation for fixed costs, cf. the above discussion. In the previous profit expectations, compensation for fixed costs amounted to approx. DKK 65 million. When it is possible for Tivoli to make a more detailed estimate of compensation for fixed costs, Tivoli will update its profit expectations. Best regards Tom Knutzen Susanne Mørch Koch Chairman CEO Contactperson: Head of press, Torben Plank tlf. 22237440 / tpl@tivoli.dk Attachment Tivoli AS - Stock Exchange Announcement no 4 - Suspension of expectations