MEXICO CITY, October 26, 2022 /PRNewswire/ — Genomma Lab Internacional, SAB de CV (BMV: LABB) (“Genomma Lab” or “the Company”), one of the leading pharmaceutical and personal care product companies in Mexico with an expanding international presence, announces that the Company has filed a Notice of Rights with the Mexican Stock Exchange (Bolsa Mexicana de Valores) declaring a cash dividend of $0.381679389 Mexican pesos per share of its common stock representing the total value of $400,000,000.00 M.N. (four hundred million 00 pesos/100 National Currency), payable to shareholders of record at the close of business in November 11, 2022. This amount is based on the total shares of LABB currently in circulation. This payment is in addition to dividends previously paid December 10, 2021 and in June 08, 2022.
The Company reported that all lines at the Personal Care Manufacturing Plant are currently operational and in the process of ramping up. No additional Capex required.
The Board of Directors of Genomma, exercising the powers assigned at the last Annual General Meeting of Shareholders, therefore deemed it appropriate to make the announced third payment today, which also indicates the next phase of the value generation of shareholder. Genomma Lab and its Board of Directors express their continued appreciation for the trust of its shareholders and financial providers, including the International Finance Corporation (IFC) and the Inter-American Development Bank (IDB).
It is important to note that the above dividend payment came from the Net Tax Profit Account (CUFIN) prior to 2014.
About Genomma Lab International
genome Lab InternationalSAB C.v. is one of the fastest growing pharmaceutical and personal care products companies in the Latin America. genome Lab develops, markets and markets a wide range of Premium branded products, many of which are leaders in the categories in which they compete in terms of sales and market share. The Company has an efficient business model through a unique combination of a new product development process, consumer-oriented marketing, an extensive retail distribution network and a low-cost, highly flexible model of supply chain operations. For more information visit: www.genome.com
Genomma Lab shares are listed on the Mexican Stock Exchange under the ticker “LABB” (Bloomberg: LABB:MM).
Note on Forward-Looking Statements
This report may contain certain forward-looking statements and information relating to the Company that reflect the current views and/or expectations of the Company and its management regarding its performance, business and future events. Forward looking statements include, without limitation, any statement that may predict, anticipate, indicate or imply future results, performance or achievements, and may contain words such as “believe,” “expect, ” ” expect,” “thinks,” “probable result,” or any other word or phrase with a similar meaning. Such statements are subject to certain risks, uncertainties and assumptions. We caution you that certain important factors could cause actual results to differ materially from the plans, goals, expectations, estimates and intentions expressed in this presentation and in the oral statements made. by authorized officers of the Company. Readers are cautioned not to place undue reliance on these statements, which speak only as of their dates. Risks and uncertainties include, but are not limited to: risks related to the impact of the global COVID-19 pandemic, such as the scope and duration of the outbreak, government actions and restrictive measures implemented in response, material delays, supply chain disruptions and other business impacts, or the Company’s ability to execute business continuity plans as a result of the COVID-19 pandemic, economic factors, such as interest rates and currency exchange rate fluctuations; competition, including technological advances, new products developed by competitors; challenges inherent in new product development; the Company’s ability to successfully execute its strategic plans; the effect of business combinations and divestitures; manufacturing problems or delays, within or within the supply chain; significant adverse litigation or governmental action, including related to product liability claims; changes in applicable laws and regulations, including tax laws; changes in the behavior and spending patterns of consumers of products and services; financial instability of international economies and legal systems and sovereign risk. A further list and description of these risks, uncertainties and other factors can be found within the Company’s relevant filings with the Bolsa Mexicana de Valores. Any statement in this release speaks only as of the date of this release. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE Genomma Lab Internacional, SAB de CV