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KAS BANK shareholders approve all resolutions related to the recommended cash offer by CACEIS

Today, KAS BANK N.V. held an Extraordinary General Meeting (EGM) to explain and discuss the recently announced recommended offer by CACEIS Bank S.A. At the EGM all resolutions were approved. The conditional resolutions take effect at the settlement date of the offer.

12 Sep 2019

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Sikko van Katwijk, Chairman of the Managing Board: “Today we discussed the offer and the rationale of joining forces with CACEIS with our shareholders. We have already seen increased commercial momentum in the past period, as clients expect to benefit from the increased scale and stronger balance sheet, and they understand the advantages of a local specialist with a strong international parent. Now that the shareholders agreed to all resolutions at this EGM, the successful closing of this transaction is one step closer, an important milestone for all shareholders in the process of tendering their shares.

The resolutions related to the public offer include the approval of the amendments of the articles of association, the conditional approval of the terms of a demerger and liquidation of KAS BANK, the conditional appointment of Mr. Jean-François Abadie, Ms. Catherine Duvaud and Mr. Joseph Saliba as members of the Supervisory Board, and the conditional granting of full and final discharge from liability to Ms. Petri Hofsté and Ms. Tanja Nagel as resigning members of the Supervisory Board.

As per the settlement date of the offer, the composition of the Supervisory Board will be: Mr. Peter Borgdorff (Chairman), Ms. Pauline Bieringa (Vice-Chairman), Mr. Jean-François Abadie, Ms. Catherine Duvaud, Mr. Joseph Saliba and Mr. Hans Snijders.

KAS BANK and CACEIS continue to work constructively to satisfy the offer conditions and are making timely progress, anticipating that the offer period closes on 23 September 2019, as planned. Reference is made to the offer memorandum for instructions on the tendering process for shareholders.

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Remko Dieker

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Remko Dieker

Secretary to the Managing Board / Investor Relations
+31 (0)20 557 51 80