VNL stock dividend 2022 - Payment 1

- Execution ratio: 2:1.

- Explanation: At the record date, shareholders holding 2 shares will receive 1 new shares.

- Rounding policy: For fractional shares (if any) arising when shareholders exercise their rights, to ensure the number of shares issued does not exceed the planned issuance, the number of shares shareholders receive will be rounded down to the nearest whole number. Fractional shares arising from rounding when distributing to existing shareholders will be cancelled.

- Example: At the record date, shareholder A holds 222 shares VNL. According to the stock dividend ratio of 2:1, the number of shares shareholder A will receive is (222 x 1)/2 = 111 new shares. According to the rounding and fractional share rules, shareholder A will receive 111 shares.