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.

Attachment

• Press release EGM 2019

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