Van Lanschot Kempen announces EGM on proposed return of capital
28 Août 2019 - 08:30AM
Van Lanschot Kempen announces EGM on proposed return of capital
Amsterdam/´s-Hertogenbosch, the Netherlands, 28 August 2019
Van Lanschot Kempen announces EGM on proposed return of
capital
On 9 October 2019, 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. The proposed
capital return, announced at the presentation of Van Lanschot
Kempen’s half-year results on 27 August 2019, would see a return to
its shareholders of €1.50 per Class A share in issue. De
Nederlandsche Bank has raised no objections to the proposal.
Karl Guha, Chairman, said: “We are very pleased that our strong
capital position enables us to put this proposal to our
shareholders. If carried, the proposal will lead to over €60
million being paid to our shareholders. This will take the total
amount returned, in the form of both dividend payments and capital
returns, to over €330 million since 2016.
We will continue to optimise our capital base going forward,
while leaving room for possible acquisitions. If possible, we will
also consider paying out capital to shareholders, subject to
approval by the regulator.” If the shareholders agree to the
proposal, the capital will, in principle, be returned in December
2019. The payment will be charged to the proportion of the share
premium reserve available for distribution and will therefore not
be subject to Dutch dividend tax. Total share capital in issue will
be unchanged and the CET 1 ratio will remain well ahead of Van
Lanschot Kempen’s capital objective of 15–17% even after the return
of capital.
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 9 October 2019 at 09.30 am. The notification,
agenda and explanatory notes, and the proposals to amend the
Articles of Association can be accessed at
vanlanschotkempen.com/egm.
Media Relations: +31 20 354 45 85;
mediarelations@vanlanschotkempen.com Investor Relations: +31 20 354
45 90; investorrelations@vanlanschotkempen.com
FINANCIAL CALENDAR 9 October 2019
Extraordinary general meeting 31 October 2019
Publication of Q3 trading update 20
February 2020 Publication of 2019 annual
results
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 press release 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 which
by their very nature fall outside the control of Van Lanschot
Kempen and its management.
Actual results, performances and circumstances may differ
considerably from these forward-looking statements as a result of
risks, developments and uncertainties relating to, but not limited
to, (a) estimates of income growth, (b) costs, (c) the
macroeconomic and business climate, (d) political and market
trends, (e) interest rates and currency exchange rates, (f)
behaviour of clients, competitors, investors and counterparties,
(g) the implementation of Van Lanschot Kempen’s strategy, (h)
actions taken by supervisory and regulatory authorities and private
entities, (i) changes in law and taxation, (j) changes in ownership
that could affect the future availability of capital, and (k)
changes in credit ratings.
Van Lanschot Kempen cautions that forward-looking statements in
this press release are only valid on the specific dates on which
they are expressed, and accepts no responsibility or obligation to
revise or update any information, whether as a result of new
information or for any other reason.
This press release 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 a
recommendation to perform or refrain from performing any
action.
This press release is a translation of the Dutch language
original and is provided as a courtesy only. In the event of any
disparities, the Dutch language version will prevail. No rights can
be derived from any translation thereof.
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