Van Lanschot Kempen announces EGM on proposal to return capital of €1 per share
August 29 2017 - 1:45AM
's-Hertogenbosch, the
Netherlands, 29 August 2017
On 11 October 2017 Van Lanschot
Kempen will hold an Extraordinary General Meeting of Shareholders
(EGM) to decide on its proposed return of capital in the amount of
€1 per share. This proposal was announced today at the presentation
of Van Lanschot Kempen's half-year results.
Van Lanschot Kempen is looking to return to its
shareholders an amount of €1 per Class A share in issue (totalling
over €41 million). De Nederlandsche Bank has raised no objections
to the proposal.
Karl Guha, Chairman, said: "We are very happy to
be able to put this proposal to our shareholders. The proposed
return of capital represents the next step in the implementation of
our capital strategy. Our aim is to return at least €250 million to
shareholders in the period up to and including 2020, subject to the
approval of our regulator."
The capital return proposal and resolutions to
amend the Articles of Association to effect this return will be put
to a vote at the EGM scheduled to take place in 's-Hertogenbosch,
the Netherlands, on 11 October 2017 at 10.00 am. The notification,
agenda and explanatory notes, and the proposals to amend the
Articles of Association may be accessed at
www.vanlanschotkempen.com/EGM.
If shareholders agree to the proposals, the
capital will, in principle, be returned in December 2017. This will
be charged to the proportion of the share premium reserve available
for distribution and will therefore be exempt from dividend tax.
Total share capital in issue will be unchanged and the CET I ratio
will remain well ahead of Van Lanschot Kempen's capital objective
of 15-17% even after the return of capital.
Media Relations: +31 20 354 45 85 ;
mediarelations@vanlanschotkempen.com
Investor Relations: +31 20 354 45 90 ;
investorrelations@vanlanschotkempen.com
About Van Lanschot
Kempen
Van Lanschot Kempen, a wealth manager
operating under the Van Lanschot, Evi and Kempen brand names, is
active in Private Banking, Asset Management and Merchant Banking,
with the aim of preserving and creating wealth for its clients. Van
Lanschot Kempen, listed at Euronext Amsterdam, is the Netherlands'
oldest independent financial services company with a history dating
back to 1737.
vanlanschotkempen.com
Disclaimer and cautionary note on forward-looking
statements
This document may contain
forward-looking statements on future events and developments. These
forward-looking statements are based on the current insights,
information and assumptions of Van Lanschot Kempen's management
about known and unknown risks, developments and uncertainties.
Forward-looking statements do not relate strictly to historical or
current facts and are subject to such risks, developments and
uncertainties that by their very nature fall outside the control of
Van Lanschot Kempen and its management.
Actual results and circumstances may differ
considerably as a result of risks, developments and uncertainties
relating to Van Lanschot Kempen's expectations regarding, but not
limited to, estimates of income growth, costs, the macroeconomic
and business climate, political and market trends, interest rates
and currency exchange rates, behaviour of clients, competitors,
investors and counterparties, actions taken by supervisory and
regulatory authorities and private entities, and changes in law and
taxation.
Van Lanschot Kempen cautions that forward-looking
statements are only valid on the specific dates on which they are
expressed, and accepts no responsibility or obligation to revise or
update any information following new information or changes in
policy, developments, expectations or other such factors.
This document does not constitute an offer or
solicitation for the sale, purchase or acquisition in any other way
or subscription to any financial instrument and is not an opinion
or a recommendation to perform or refrain from performing any
action.
Parts of this document may provide insider
information about Van Lanschot Kempen N.V. and/or F. van Lanschot
Bankiers N.V. as meant in Articles 7(1) up to and including (4) of
EU Regulation 596/2014.
This document is a translation of the Dutch
original and is provided as a courtesy only. In the event of any
disparities, the Dutch version will prevail. No rights can be
derived from the translated document.
Press release BAVA
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Van Lanschot Kempen via Globenewswire
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