VAN LANSCHOT KEMPEN N.V 's-Hertogenbosch, the Netherlands, 29 August 2017
On 11 October 2017 Van Lanschot Kempen will hold an Extraordinary General Meeting of Shareholders (EGM) to decide on its proposed return of capital in the amount of €1 per share. This proposal was announced today at the presentation of Van Lanschot Kempen's half-year results.
Van Lanschot Kempen is looking to return to its shareholders an amount of €1 per Class A share in issue (totalling over €41 million). De Nederlandsche Bank has raised no objections to the proposal.
Karl Guha, Chairman, said: "We are very happy to be able to put this proposal to our shareholders. The proposed return of capital represents the next step in the implementation of our capital strategy. 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."
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 11 October 2017 at 10.00 am. The notification, agenda and explanatory notes, and the proposals to amend the Articles of Association may be accessed at www.vanlanschotkempen.com/EGM.
If shareholders agree to the proposals, the capital will, in principle, be returned in December 2017. This will be charged to the proportion of the share premium reserve available for distribution and will therefore be exempt from 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.
Media Relations: +31 20 354 45 85 ; mediarelations@vanlanschotkempen.com
Investor Relations: +31 20 354 45 90 ; investorrelations@vanlanschotkempen.com
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.
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Disclaimer and cautionary note on forward-looking statements
This document 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 that by their very nature fall outside the control of Van Lanschot Kempen and its management.
Actual results and circumstances may differ considerably as a result of risks, developments and uncertainties relating to Van Lanschot Kempen's expectations regarding, but not limited to, estimates of income growth, costs, the macroeconomic and business climate, political and market trends, interest rates and currency exchange rates, behaviour of clients, competitors, investors and counterparties, actions taken by supervisory and regulatory authorities and private entities, and changes in law and taxation.
Van Lanschot Kempen cautions that forward-looking statements are only valid on the specific dates on which they are expressed, and accepts no responsibility or obligation to revise or update any information following new information or changes in policy, developments, expectations or other such factors.
This document 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 an opinion or a recommendation to perform or refrain from performing any action.
Parts of this document may provide insider information about Van Lanschot Kempen N.V. and/or F. van Lanschot Bankiers N.V. as meant in Articles 7(1) up to and including (4) of EU Regulation 596/2014.
This document is a translation of the Dutch original and is provided as a courtesy only. In the event of any disparities, the Dutch version will prevail. No rights can be derived from the translated document.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Van Lanschot Kempen via Globenewswire
