On 5 October 2018, Van Lanschot Kempen will hold an Extraordinary General Meeting (EGM) to decide on its proposed return of capital in the amount of €1.50 per share and the proposal to appoint Frans Blom to the Supervisory Board. The proposed capital return, announced at the presentation of Van Lanschot Kempen’s half-year results on 22 August 2018, would see a return to its shareholders of €1.50 per Class A share in issue (totaling over €60 million). De Nederlandsche Bank has raised no objections to the proposal.
Karl Guha, Chairman, said: ‘We are very happy that our strong capital position enables us to put this proposal to our shareholders. 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. If shareholders agree to the proposal, we’ll have realised around €210 million of this.’
If the shareholders agree to the proposal, the capital will, in principle, be returned in December 2018. The payment will be charged to the proportion of the share premium reserve available for distribution and will therefore be exempt from Dutch 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.
Van Lanschot Kempen is also announcing that the Supervisory Board has nominated Frans Blom (1962) as a member of the Supervisory Board. Mr Blom is an experienced executive with extensive experience in setting up and implementing change processes within organisations, and a lot of relevant knowledge about the financial sector.
Mr Blom is a senior partner and managing director of the Boston Consulting Group (BCG). He was a member of the EMEA management team for six years and subsequently joined BCG’s worldwide board, on which he served for six years. De Nederlandsche Bank has approved the nomination of Mr Blom as a member of the Supervisory Board.
The capital return proposal and resolutions to amend the Articles of Association to effect this return, and the proposal to appoint Frans Blom, will be put to a vote at the EGM scheduled to take place in ’s-Hertogenbosch, the Netherlands, on 5 October 2018 at 10.00 am. The notification, agenda and explanatory notes, and the proposals to amend the Articles of Association can be accessed at Shareholders' meetings 2018.
Media Relations: +31 20 354 45 85; firstname.lastname@example.org
Investor Relations: +31 20 354 45 90; email@example.com