At the request of Friesland Bank, the shareholder agreement between Van Lanschot NV and Friesland Bank NV will be terminated with effect from 13 December 2009.
Van Lanschot has been informed of this decision and looks forward to continuing the constructive shareholder relationship with Friesland Bank.
According to the most recent notification filed with the Netherlands Authority for the Financial Markets, Friesland Bank's interest in Van Lanschot NV totals 24.60%. This interest comprises depositary receipts for ordinary A shares (2,795,047 shares) and ordinary B shares (6,708,299 shares). The depositary receipts for ordinary A shares are listed on the Euronext Amsterdam stock market. The ordinary B shares are registered shares. The transfer of ordinary B shares requires the prior approval of the Supervisory Board and the Board of Managing Directors of Van Lanschot NV.
Details of shareholder agreement:
The shareholder agreement dated from 1999 (the listing of Van Lanschot) and was amended in 2005. The agreement stipulated, among other things, that Friesland Bank would not lend its cooperation to the acquisition by a third party of a shareholding in Van Lanschot exceeding 20% of the share capital. Furthermore, under the agreement the total shareholding of Friesland Bank in Van Lanschot was capped at 29%. The agreement also stipulated that, in the event of share issues, Van Lanschot would allow Friesland Bank to apply for shares up to 20% of the capital to be issued. As long as Friesland Bank held at least 20% of Van Lanschot's share capital, it had the right to recommend one member of the Supervisory Board of Van Lanschot. Friesland Bank has not used this right since May 2008.
's-Hertogenbosch, 13 November 2009
Van Lanschot Media Relations: Etienne te Brake, Corporate Communication spokesperson
Van Lanschot Investor Relations: Geraldine Bakker-Grier, Investor Relations Manager
Van Lanschot NV is the holding company of F. van Lanschot Bankiers NV, the oldest independent bank in the Netherlands with a history dating back to 1737. The bank focuses on three target groups: high net-worth individuals, medium-sized businesses (including family businesses) and institutional investors. Van Lanschot stands for high-quality services founded on integrated advice, personal service and customised solutions. Van Lanschot NV is listed on the Euronext Amsterdam Stock Market.
The press release can be downloaded from the following link: