's-Hertogenbosch, the Netherlands, 11 December 2018
On 19 December 2018, Van Lanschot Kempen will return to its shareholders the previously announced amount of €1.50 per Class A share in issue, totalling over €60 million.
Van Lanschot Kempen's shareholders approved the return of capital at an Extraordinary General Meeting on 5 October. On 10 December, the legally prescribed two-month objection period expired. No objections were made and subsequently the payment date for the capital return has been fixed at 19 December.
This return of capital represents the next step in the implementation of Van Lanschot Kempen's capital strategy. Its aim is to return at least €250 million to shareholders in the period up to and including 2020, subject to the approval of its regulator. This return of capital will take the total capital returned to €210 million.
The CET1 ratio will remain well ahead of Van Lanschot Kempen's capital objective of 15-17% even after the return of capital. The capital return will be charged to the share premium reserve available for distribution and will therefore be exempt from Dutch dividend tax. Total share capital in issue will remain unchanged.
Important dates related to the capital return:
Ex-date: 17 December 2018
Record date: 18 December 2018
Payment date: 19 December 2018
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, but not limited to, 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, changes in law and taxation, ownership changes that may influence the future availability of capital, and changes in credit ratings.
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.
The financial data in this document have not been audited, unless expressly stated otherwise.
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 NV and/or Van Lanschot NV 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
