Today, the shareholders of Vastned Belgium (Vastned Belgium NV, Euronext Brussels: VASTB, a public regulated real estate company (GVV/SIR)) approved the proposed reverse cross-border legal merger in which Vastned Retail (Vastned Retail N.V., Euronext Amsterdam: VASTN), the Dutch parent company of Vastned Belgium, will merge with and into Vastned Belgium (the Merger) at an extraordinary general meeting of shareholders.
70,53% of all ordinary shares of Vastned Belgium were represented at the extraordinary general meeting. The Merger was unanimously approved.
The shareholders of Vastned Belgium today also approved the (re)appointment of directors, per 1 January 2025 at 00.00 hours Dutch and Belgian time (under the condition precedent of the completion of the Merger), and the distribution (under the condition precedent of the completion of the Merger) of an intermediary dividend (tussentijds dividend) in the amount of EUR 1.00 per share, payable in January 2025 to the pre-Merger shareholders of Vastned Belgium.
Prior to Vastned Belgium's extraordinary general meeting, the shareholders of Vastned Retail today also approved the Merger with the legally required majority.
On 16 May 2024, Vastned Retail and Vastned Belgium announced their intention to effect the Merger, whereby the combined company will be named ‘Vastned’, headquartered in Belgium under the Belgian REIT regime. The Vastned group will continue its activities in the Netherlands, Belgium, France and Spain.
The Merger will become effective on 1 January 2025 at 00.00 hours Dutch and Belgian time, provided that the remaining conditions of the Merger are also satisfied by then. At that time, Vastned Retail shareholders will receive 0.839 Vastned Belgium share for each Vastned Retail share for which no withdrawal right has been exercised in accordance with Dutch law. Vastned Retail shares held in treasury by or for the account of Vastned Retail and Vastned Retail shares for which a withdrawal right has been exercised in accordance with Dutch law, shall be cancelled by operation of law.
Further information regarding the Merger is available online at www.vastned.be/en/investor-relations/merger and www.vastned.com/merger-documents/.
