With the approval from the Depository Receipts Holders, Triodos Bank will continue preparing for the listing and admission of its Depository Receipts on Euronext Amsterdam. The listing is expected to be realized before the Annual General Meeting in May 2025. With this listing, Triodos Bank aims to enhance the possibilities to invest in its Depository Receipts. Triodos Bank reconfirmed in its Extraordinary Meeting that it will not issue new shares at the time of the listing on Euronext.
Depository Receipts Holders also approved the proposal for Triodos Bank to reduce the issued capital of Triodos Bank by means of lowering the nominal value per share to EUR 1. For each share, an amount of EUR 49 will be added to the share premium reserve of the company, meaning that the equity of Triodos Bank shall remain unchanged. The lowering of the nominal value of shares will enable Triodos Bank, if required, to issue new shares, which is only possible if the nominal value is lower than the issue price. The ability to issue new shares is important in order to maintain access to new capital and if so decided, issue stock dividend. The required changes to the Articles of Association on lowering the nominal value will be on the agenda of an additional second EGM as explained below.
The EGM held today could not vote on the proposed changes of the Articles of Association. In accordance the current Articles of Association, during a general meeting in which a decision to amend the Articles of Association (agenda item 4a. and 4b.) is to be made, at least three-quarters of the issued capital must be represented. As this was not the case, there was no voting regarding item 4a. and 4b and a new Extraordinary General Meeting will be convened.
This second EGM, irrespective of the represented percentage of issued capital, may take a valid decision concerning the proposed amendment to the Articles of Association, on the condition that the decision is approved by at least a three-quarters majority of the votes cast.
The second Extraordinary General Meeting will be held on 15 November 2024 and will only vote on the current Agenda item 4a. and 4b. regarding the changes of the Articles of Association of Triodos Bank.
Disclaimer:
The information in this document has been obtained or derived from sources believed by Triodos Bank N.V. to be reliable at the date of publication of this document. However, no representations are made as to its accuracy or completeness. The information may be subject to change, and Triodos Bank N.V. assumes no undertaking to revise or amend the information provided, or to provide any update in respect of any change related thereto. Triodos Bank N.V. accepts no liability for loss arising from the use of the information. The information is: (i) for discussion purposes only; (ii) not to be regarded as (investment) advice; and (iii) not to be relied upon in substitution for the exercise of independent and sound judgement.
This document does not constitute any commitment or any offer to commit to any transaction or financing by Triodos Bank N.V.
This document may include forward-looking statements. All statements other than statements of historical facts may be forward-looking statements. Some of these forward-looking statements are characterised by the use of words such as (but not limited to): 'expect', 'anticipate', 'estimate', 'may', 'should', 'would', 'believe', 'intend', 'plan', 'contemplate', 'aim', 'could', 'will', 'potential', 'think', 'seek', as well as similar expressions, the future tense and the conditional. The forward-looking statements included in this document with respect to the business, results of operation and financial condition of Triodos Bank N.V. are subject to a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements, including but not limited to the following: changes in economic and political conditions, actions taken and policies applied by governments and their agencies, changes in credit spreads or interest rates, the results of our strategy and investment policies and objectives. Triodos Bank N.V. undertakes no obligation to update or revise any forward-looking statement to reflect events or circumstances that may arise after the date of this document.