5 July 2023 – Tradability in Triodos Bank Depository Receipts restored
Today the tradability in Triodos Bank Depository Receipts (DRs) has been restored. During the first trading round today, buy and sell orders in the order book have been matched based on the transaction price at which the highest trading volume could be executed. Captin has announced that a total number of 20,497.7662 DRs have been traded against a transaction price of €50.00 per DR.
28 June 2023 – Message to DR Holders – Opening order book MTF
Triodos Bank informs Depository Receipt Holders about the opening of the order book in Triodos Bank Depository Receipts on a Multilateral Trading Facility (“MTF”) facilitated by Captin. This enables current Depository Receipt Holders and prospective new investors who have opened a trading account with Captin to place buy or sell orders until the order book closes at 14:00 (CET) on 5 July.
Trading in the Triodos Bank Depository Receipts on the MTF takes place by way of a weekly auction. Captin is required to safeguard orderly trading conditions on the MTF. In case there is a significant price movement, Captin may be required to temporarily halt or constrain trading. These trading halts must have appropriate parameters to make sure that significant price movement can be detected. The parameters used by Captin are a certain percentage above and below the latest transaction price. For the first trading round, the parameters of the trading halts are given the extraordinary circumstances set at 50%. The combination of this percentage above and below the latest transaction price results in a price bandwidth. This percentage and any subsequent amendments will be published by Captin on its website.
At the start of the first auction round, there is not yet a previous transaction price. To enable Captin to determine a price bandwidth for the first trading round a technical listing mid-price has been applied. The technical listing mid-price is EUR 60.00, based on the earlier announced estimated economic value of a Triodos Bank depository receipt as per 1 January 2023. The technical listing mid-price serves to enable the orderly start of the trading process and cannot be considered a prediction with respect to the market price of the Depository Receipts on the MTF.
20 June 2023 – Message to DR Holders – Expected opening order book MTF
Triodos Bank informs Depository Receipt Holders (DR Holders) about the expected opening of the order book on 28 June 2023 and about important milestones prior to the first day of trading on Captin’s Multilateral Trading Facility (MTF). Furthermore, some instructions concerning placing orders are highlighted as well as the latest practical information for DR Holders.
20 June 2023 – Order Book for trade of Depository Receipts on MTF expected to open on 28 June 2023
Triodos Bank takes the next step in restoring tradability in Triodos Bank Depository Receipts (DRs) in June 2023. The order book for trade is expected to open on 28 June 2023. The initial trading round is expected to commence on 5 July 2023 marking the official moment of listing of DRs on Captin’s Multilateral Trading Facility (MTF).
20 June 2023 – Triodos Bank expects substantially higher net profit over first six months 2023
In view of the anticipated listing of the Depository Receipts of Triodos Bank on Captin’s MTF, we believe it is in the interest of all existing and potential new investors to ensure that they can base their investment decisions on the most up-to-date information.
14 June 2023 – Video on demand Recording of Info-webinar for Depository Receipts Holders 6 June 2023
On 6 June, almost 2000 Depository Receipts Holders of Triodos Bank (DR Holders) attended the info-webinars for DR Holders. The recording of the webinar, originally conducted in Dutch with simultaneous translations into English, French, German and Spanish, are available via www.triodos.com/drhwebinars.
1 June 2023 – Update MTF - Annual General Meeting 26 May 2023
In this update Triodos Bank informs Depository Receipt holders about the update on the process towards MTF-listing that was provided during the AGM of 26 May as well as about supporting information materials recently published. Among those the tutorial video on trading is highlighted.
25 May 2023 – Retail Brochure: now available in multiple languages
On 17 May 2023, Triodos Bank published a Retail Brochure for Retail Investors. As of 25 May, 2023, this Retail Brochure is now also available in multiple languages. Please see below links to download the Retail Brochure in Dutch, French, and German, as well as English. This Retail Brochure should be read as an introduction to the Information Memorandum. Throughout this Retail Brochure, the Information Memorandum should be regarded as leading, both in content and as a complete overview of relevant information and risks.
22 May 2023 – Online information meeting for Depository Receipt holders on 6 June 2023
Depository Receipt holders (DR holders) are invited to attend the online information meeting (webinar) on Tuesday 6 June 2023.
DR holders will be provided with an update for the expected listing of the Depository Receipts on the Multilateral Trading Facility (MTF) platform and what this means for both DR holders and the bank. The bank's Executive Board members Jeroen Rijpkema and Jacco Minnaar will also address where Triodos Bank stands based on what is communicated earlier with the publication of the annual results, the information published in the Information Memorandum (3 April 2023) and the information we will share with you during the coming Annual General Meeting of 26 May.
17 May 2023 – Retail Brochure
On 17 May 2023, Triodos Bank published a Retail Brochure for Retail Investors. This Retail Brochure should be read as an introduction to the Information Memorandum. Throughout this Retail Brochure, the Information Memorandum should be regarded as leading, both in content and as a complete overview of relevant information and risks.
26 April 2023 – Important update on the MTF-listing
In this update Triodos Bank provides information on the progress of preparations towards the listing and invites Depository Receipt holders who would like to trade as of the planned moment of the MTF-listing (end of June) to commence the trading account opening procedure with Captin no later than 15 May 2023.
6 April 2023 – Publication of company presentation
On the 6th of April, Triodos Bank published a company presentation for professional investors on its website, this presentation is not suitable for retail investors. By downloading the file below, you confirm that you are a professional client in accordance with Annex II of the EU Directive 2014/65.
I confirm that I meet, or the organization/company I represent meets the definition of a "professional client" in accordance with Annex II of the EU Directive 2014/65.
3 April 2023 – Information Memorandum 2023
On the 3rd of April, Triodos Bank issued a press release announcing the publication of its 2023 Information Memorandum ahead of its upcoming listing of Depository Receipts on an MTF platform.
23 March 2023 – Meeting Depository Receipt holders of SAAT votes for ‘one share one vote’
During the Meeting of the Foundation for the Administration of Triodos Bank Shares (SAAT) on 23 March 2023, the depository receipt holders voted on the new voting policy. Read the press release here.
21 March 2023 – Letter 16 March 2023 adressed to SAAT, concerning distribution payment/choice of form of distribution
Read the letter here.
16 March 2023 – Triodos Bank’s reaction on ruling Enterprise Chamber
We have taken note of the ruling of the Enterprise Chamber, in which the Enterprise Chamber has ruled in line with our reasoning and rejected the request for an investigation.
The Enterprise Chamber has motivated its judgment in an extensive ruling. We will study this ruling carefully. We will continue to work closely with all our stakeholders, including the depository receipt holders, to realise the listing on an MTF and to restore tradability of the depository receipts.
13 March 2023 – Video on demand Recording of Info-webinars for Depository Receipts Holders 8 & 9 March 2023
On 8 and 9 March, almost 2000 Depository Receipts Holders of Triodos Bank (DR Holders) attended one or more of the four info-webinars for DR Holders. The recording of one of the English spoken sessions is available via www.triodos.com/drhwebinars.
Other useful links for your information:
1 March 2023 – Updated overview of steps towards listing on MTF
We've updated the infographic illustrating the overview of steps towards MTF listing to better reflect the phased approach used by Triodos Bank and Captin while moving forward.
The view on the more detailed preparatory and decision-making process has been updated with the more concrete dates and timelines as currently foreseen.
23 February 2023 – Online information meetings for Depository Receipt holders on 8 & 9 March 2023
Depository Receipt holders (DR holders) are invited to attend one of the online information meetings (webinars) on Wednesday 8 or Thursday 9 March 2023.
DR holders will be provided with an update on the preparations for the listing on the Multilateral Trading Facility (MTF) platform, including insights in the trading practices on the MTF as well as on the proposed options regarding SAAT’s voting policy. In a letter to DR holders, the Chair of SAAT gives additional explanation on the proposed options to the voting policy.
1 February 2023 – Letter to Stichting Certificaathouders Triodos Bank
You can find the full letter (in English) with answers to questions and comments regarding registration with Captin and opening a trading account here.
13 January 2023 – Letter to Stichting Certificaathouders Triodos Bank
You can find the full letter with answers to questions about the estimated economic value of depository receipts (in English) here.
23 December 2022 - Triodos Bank comments on a hearing by the Enterprise Chamber of the Amsterdam Court of Appeal
On Thursday, December 22, 2022, the Enterprise Chamber of the Amsterdam Court of Appeal heard a request from the Stichting Certificaathouders Triodos Bank (SCTB) for an inquiry into certain policies of Triodos Bank. The ruling is expected in the first quarter of 2023. In addition, the President of the Enterprise Chamber called on the parties to find a solution for the dispute together before the final ruling. Read the article.
21 December 2022 - Announcement of the estimated economic value of depository receipts as of 1 January 2023
As Triodos Bank is a Dutch financial institution, part of its legal reporting requirements is to periodically submit data of fiscal relevance to the Dutch Tax and Customs Administration. Due to this legal reporting requirements, the economic value, or ‘fair value’, of Triodos Bank depository receipts must be determined as per 1 January 2023. As there is currently no trading in the depository receipts, the economic value can only be estimated. Today we issued a press release announcing the estimated economic value of certificates as of 1 January 2023. Read the press release.
12 December 2022 - Announcement to the Dutch depository receipt holders
On Monday 12 December, Triodos Bank sent an announcement to the first group of Dutch depository receipt holders that they will be invited by Captin, on behalf of Triodos Bank, to login on the MTF platform operated by Captin and to open a trading account with Captin. Take a look at www.triodos.nl/certificaathouders (section 'Laatste informatie'). Here you will find the announcement in Dutch or read the copy in English.
12 December 2022 - Update to overview of steps
We have done a minor update to the infographic to better reflect the phased approach used by Triodos Bank and Captin to invite depository receipt holders to log-in and go through the onboarding process on the MTF platform.
9 December 2022 - Phased approach
From December 2022, we will invite depository receipt holders to access the register of depository receipt holders managed by Captin, on behalf of Triodos Bank. We will do this in a phased approach per country, starting with The Netherlands.
30 November 2022 – Follow-up steps towards listing on MTF
Trading in Triodos Bank depository receipts will take place in a different way in the future. During the EGM on October 11th 2022, it was indicated that depository receipt holders would be informed in more detail about the follow-up steps and decision-making moments that will take place towards listing on the MTF. As announced earlier, Captin will be our partner to facilitate the trading platform. Please click here for the illustrated overview of steps towards listing. Or view the more detailed preparatory and decision-making process toward listing, as currently foreseen. The listing of the depository receipts on the MTF and the opening of trading accounts between depository receipt holders and Captin will, in due course, make trading in depository receipts possible again. This will allow us to continue to work together for positive societal impact. Which in today's world, seems more necessary than ever.
14 October 2022 - E-mail to DR holders about the upcoming changes around your Triodos depository receipts
Triodos Bank has sent an e-mail with an update on the preparations for listing depository receipts on a MTF to all DR holders. This e-mail contains the upcoming changes with important steps in the coming month. It also includes an animation video with a brief explanation of the transition to the MTF.
11 October 2022 – SAAT approves listing on MTF in principle
Triodos Bank N.V. announced that its Extraordinary General Meeting (EGM) and SAAT meeting on 11 October 2022 have adopted all proposals on their respective agendas. Read the press release.
9 October 2022 – Triodos Bank regrets escalation, asks the Enterprise Chamber to reject request for investigation
Triodos Bank has been informed that the Stichting Certificaathouders Triodos Bank (“Stichting”) has filed a petition with the Enterprise Chamber of the Amsterdam Court of Appeal (“Enterprise Chamber”). The Stichting has asked the Enterprise Chamber to order an investigation. Triodos Bank regrets this escalation and will ask the Enterprise Chamber to reject the request. Please see our press release for more information.
6 October 2022 – Letter to Stichting Certificaathouders Triodos Bank
You can find the full letter (in Dutch) here.
3 October 20022 – Reply on letter Stichting Certificaathouders Triodos Bank
You can find the full letter (in Dutch) here.
18 August 2022 – Half Year Results 2022
Triodos Bank presented the half year results 2022. Please see our press release for more information.
Further, Triodos Bank's CEO, Jeroen Rijpkema has provided additional context for Triodos DR holders in his email distributed to DR holders today.
Reference is made to the following document in the above-mentioned email: Overview of communication regarding Triodos DRs.
18 August 2022 – Triodos Bank's reply to letter from Stichting Certificaathouders Triodos Bank
You can find the full letter (in Dutch) here.
1 August 2022 – Triodos Bank proposes an extraordinary dividend of EUR 1.01 per Depository Receipt and withdraws restricted buyback programme.
Read the full announcement here.
22 July 2022 - Triodos Bank's response to further questions from the Dutch association of shareholders
On 4 May 2022, the Dutch association of shareholders (European Investor-VEB) again asked Triodos Bank questions about the Depository Receipts. Triodos Bank responded to this letter in writing on 27 June 2022. On 6 July 2022, the Chairs of the Executive Board and Supervisory Board of Triodos Bank met with the directors of the VEB to discuss both letters. Both parties agreed to publish these letters simultaneously.
24 May 2022 – During het Triodos Bank N.V. AGM on 20 May, the Executive Board provided an update on the implementation of the restricted buyback programme.
Read the transcript of that update here (PDF).
29 March 2022 – Triodos Bank General meeting adopts proposal for restricted buy back programme for Depository Receipts.
Read the press release here.
25 March 2022 - Triodos Bank's response to questions from the Dutch association of shareholders
On 17 March 2022, the Dutch association of stockholders (European Investor-VEB) asked Triodos Bank questions about the Depository Receipts. Triodos Bank responded to this in writing on 25 March 2022.
15 February 2022 – Triodos Bank presents details of the restricted buyback programme of Depository Receipts
Triodos Bank presents details of the restricted buyback programme of Depository Receipts. Please see our press release.
21 December 2021 – Triodos Bank to pursue listing on a Multilateral Trading Facility.
On 21 December 2021 Triodos Bank has published a press release to announce the decision to pursue a listing on a Multilateral Trading Facility. Please see our press release for more information
28 September 2021 – Extraordinary General meeting 2021
On 28 September 2021 Depository Receipt holders were invited to attend the Triodos Bank Extraordinary General Meeting (EGM) and the Meeting of Depository Receipt Holders of the Foundation for the Administration of Triodos Bank Shares. You can find the recording of this event & other relevant documents here.
23 August 2021 - Half Year Results 2021 Webcast
On 23 August 2021 Depository Receipt holders were invited to attend a webcast where Triodos Bank CEO Jeroen Rijpkema and CFO André Haag presented the Half Year Results 2021 and answered questions from Depository Receipt holders.
24 March 2021 - Year Results 2020 Webcast
On 18 March 2021 Depository Receipt holders were invited to attend a webcast where Triodos Bank CEO Peter Blom and CFO André Haag presented the Year Results 2020 and answered questions from Depository Receipt holders.
5 January 2021 - Trading of Triodos Bank Depository Receipts suspended
On 5 January 2021 Triodos Bank has suspended the possibility to buy and sell Triodos Bank Depository Receipts. Please see our press release for more information.
13 October 2020 - Gating amount changes
On 13 October 2020, Triodos Bank resumed trade of its Depository Receipts. Since then Depository Receipt holders have been able to buy and sell Depository Receipts.
The pattern of sales and purchases that is emerging demonstrates that there is both an appetite to sell as well as to buy new DRs. The level of sell orders is not yet fully compensated by the level of buy orders. The second wave of COVID-19 infections, more severe and sooner than expected, is understandably an important factor for many DR-holders when considering whether to buy or to sell.
To facilitate transactions in a controlled way, the total value of Depository Receipts that may be offered for sale by any Depository Receipt holder can be restricted. In order to create more time for new purchases to materialise and to restore a balanced trading pattern, Triodos Bank has decided to restrict the maximum value of the weekly amount that may be sold per investment account. From Tuesday 27 October 2020, 9.00 hrs CET, the maximum value of the amount of Depository Receipts which can be sold per investment account per week is set at EUR 1,000.
We will monitor the sales and demand patterns carefully and may change this amount again in future. There is no restriction on buy orders.
6 October 2020 - Information to Depository Receipt holders regarding new prospectus and re-opening of trade
Triodos Bank has published a new prospectus and will reopen trade in its Depository Receipts of ordinary shares on Tuesday 13 October 2020, at 9.00 hrs CEST. Please see our press release for more information.
28 September 2020 - Update on trading facilities for Depository Receipts
On 21 August 2020 Triodos Bank published its Half Year Results 2020. In addition to this important information for investors, a new prospectus is required to resume trading in depository receipts. This prospectus has been formally adopted by the AFM on 24 September 2020.
During the approval process for the new prospectus, a number of improvements to the distribution process were identified. These changes are being addressed currently and Triodos Bank is making the final preparations. Depository Receipt holders will be personally informed in the coming weeks about the date of reopening via a letter or e-mail.
24 August 2020 - Half Year Results 2020 Webcast
On 24 August 2020 Depository Receipt holders were invited to attend a webcast where Triodos Bank CEO Peter Blom and CFO André Haag presented the Half Year Results 2020 and answered questions from Depository Receipt holders.
8 July 2020 - Triodos Bank's response to questions from the Dutch association of shareholders
On 24 June, the Dutch association of stockholders (Vereniging van Effectenbezitters, VEB) asked Triodos Bank questions about the suspension of trading in Depository Receipts. Triodos Bank responded to this in writing on 8 July.
18 June 2020 - Depository Receipts update
We have recently shared an update on the reopening of trade in depository receipts with existing Depository Receipts Holders.
The full text of this update can be found here.
1 April 2020 - No dividend payment in 2020
Triodos Bank N.V. has decided not to distribute the 2019 dividend on its Depository Receipts. The decision to revise its dividend proposal of 18 March 2020 has been taken in a direct response to the recommendation made by the European Central Bank and De Nederlandsche Bank (DNB) on 27 March to all banks, not to pay out dividend in order to prioritise supporting the real economy by lending to customers during the COVID-19 pandemic. Therefore, no proposals to pay out dividend will be made at the upcoming Annual General Meeting of Triodos Bank N.V. Please see our press release for more information.
18 March 2020 - Temporary closure of trading of Triodos Bank Depository Receipts
Triodos Bank has temporarily suspended the possibility to buy and sell Triodos Bank depository receipts due to the uncertainty the COVID-19 Pandemic has created in the economy. We intend to resume trading once the impact of this pandemic has become clearer. Please see our press release for more information.
Triodos Bank's latest press releases can be found here.
More information on the past and future AGMs can be found here.
The latest online Annual Report can be found here.
Post trade information depository receipts 2021
In 2021 the trading in depository receipts was suspended from 5 January 2021 onwards.
