Clarivate Plc Declares Cash Dividend On Series A Convertible Preferred Shares

LONDON -- In a recent announcement, Clarivate Plc (NYSE: CLVT; CLVT PR A), a global leader in providing transformative intelligence, disclosed that its board of directors has approved a quarterly dividend of $1.3125 per share on its 5.25% Series A Mandatory Convertible Preferred Shares ("Preferred Shares"). This dividend is slated for payment in cash to shareholders who are on record by the close of business on a specified date. Furthermore, a significant date is approaching for these Preferred Shares, with a mandatory conversion into ordinary shares of Clarivate scheduled to occur. This conversion will be based on the average volume weighted average price ("VWAP") of Clarivate's ordinary shares during a defined 30-trading day period.

The conversion rates for the Preferred Shares have been meticulously outlined, depending on the VWAP of Clarivate's ordinary shares during the valuation period. If the VWAP exceeds $31.20, each Preferred Share will convert into 3.2052 ordinary shares of Clarivate. Should the VWAP be between $26.00 and $31.20, the conversion rate will be determined by dividing $100.00 by the VWAP. In scenarios where the VWAP falls below $26.00, each Preferred Share will convert into 3.8462 ordinary shares of Clarivate. The final conversion rate will be announced after the valuation period concludes.

This financial maneuver is part of Clarivate's broader strategy to manage its capital efficiently and reward its shareholders. The terms and conditions governing the Preferred Shares are detailed in the "Statement of Rights" attached to Clarivate's annual report on Form 10-K for the fiscal year ended, providing shareholders and potential investors with comprehensive insights into their investment.

However, it's important to note that this announcement contains forward-looking statements that involve certain risks and uncertainties. These statements are not guarantees of future performance and are subject to various factors that could cause actual results to differ materially from those anticipated in such statements. Clarivate has outlined these risks under the "Risk Factors" section in its annual report on Form 10-K, among other filings with the U.S. Securities and Exchange Commission ("SEC").

About Clarivate: Clarivate stands as a premier global entity in the realm of transformative intelligence, offering enriched data, insights & analytics alongside workflow solutions and expert services across Academia & Government, Intellectual Property, and Life Sciences & Healthcare sectors. For more information about Clarivate and its offerings, interested parties are encouraged to visit www.clarivate.com.