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Cloetta's board withdraws SEK1.00 per share dividend proposal due to uncertainty of COVID-19 outbreak.

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NORDIC BUSINESS REPORT-March 23, 2020-Cloetta's board withdraws SEK1.00 per share dividend proposal due to uncertainty of COVID-19 outbreak

(C)2020 M2 COMMUNICATIONS http://www.m2.com

Cloetta AB (STO:CLAB), a Northern European confectionery company, on Friday announced that due to the current uncertainty of the global outbreak of COVID-19, the company's board of directors has decided to withdraw the prior proposal to the Annual General Meeting 2020 regarding a dividend of SEK1.00 per share.

Also, Cloetta has assessed that the risk of negative financial impact from the end of March 2020 has increased significantly.

Cloetta added that it is working diligently to limit further spread of COVID-19 in society, the highest priority being the health and safety of its employees, customers and consumers. It will, when needed, adapt its actions according to local government advice and regulations, whilst at the same time striving to mitigate any disruptions to its business.

In a recent update, Cloetta had commented that the customer demand for pick & mix temporarily might be negatively affected. Following the latest development, with a discontinued pick & mix contract in Sweden and additional grocery retailers taking measures to reduce groups of people in front of the pick & mix shelves, Cloetta now expects the customer demand for pick & mix to temporarily be...

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