At an Extraordinary General Meeting held in the city of ’s-Hertogenbosch, Van Lanschot Kempen’s shareholders today approved the proposed return of capital in the amount of €1.50 per share, as announced on 22 August 2018.
Van Lanschot Kempen has the intention to return a total of over €60 million in capital in December 2018, subject to the legally prescribed period applicable to a capital return such as this. The capital return will be charged to 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 CET1 ratio will remain well ahead of Van Lanschot Kempen’s capital objective of 15–17% even after the return of capital.
Karl Guha, CEO: ‘We are very happy that our strong capital position enabled 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. After this capital return of over €60 million we will have realised around €210 million of this.’
At today’s meeting the shareholders also agreed on the proposed nomination of Frans Blom (1962) to the Supervisory Board.
Willy Duron, Chairman of the Supervisory Board: ‘We are very pleased that Frans Blom will join the Supervisory Board. He has extensive experience in setting up and implementing growth strategies and change processes within organisations and has in-depth knowledge of the financial sector. His knowledge and competencies are a good addition to the Supervisory Board.’
Ex-date 17 December 2018
Record date 18 December 2018
Payment date 19 December 2018