Published: 8.00 CEST
On 6 October 2022, Van Lanschot Kempen will hold an extraordinary general meeting (EGM) to decide on its proposal to return capital in the amount of €1.50 per share. The proposed capital return, announced on the publication of Van Lanschot Kempen’s half-year results on 25 August 2022, would see a return to its shareholders of €1.50 per Class A share in issue. De Nederlandsche Bank has approved the capital return.
If the shareholders agree to the capital return, payment will, in principle, take place in December 2022. This will be charged to the proportion of the share premium reserve available for distribution and the total share capital in issue will be unchanged. After the capital return, the CET 1 ratio will remain well ahead of Van Lanschot Kempen’s capital objective of 15%, plus an M&A add-on of 2.5% for acquisitions.
At its Capital Markets Day on 11 May 2022, Van Lanschot Kempen announced that it intends to pay out to its shareholders any extra capital in excess of its CET 1 ratio of 17.5%, subject to approval by its regulator. The proposed capital return is in line with this.
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 Amsterdam, the Netherlands, on 6 October 2022 at 3.00 pm. The notification, agenda and explanatory notes, and the proposals to amend the Articles of Association can be accessed at Shareholders’ meetings.