General Meeting of Shareholders 2009
During the annual General Meeting of Shareholders of Nederlandse Waterschapsbank N.V. (NWB) held in The Hague on 23 April 2009, the shareholders adopted the 2008 financial statements and approved the proposed dividend payment of € 40 million. The dividend payment comprises a distribution from the profit for 2008 of € 9 million and distribution from the general reserve of € 31 million. This means that the total distribution is the same as the dividend of € 40 million paid for the 2007 financial year.
The shareholders endorsed the conduct of affairs by the members of the Managing Board and the supervision exercised by the members of the Supervisory Board in 2008.
In addition, the shareholders approved the proposal by the Supervisory Board to appoint Mr B.J.M. baron van Voorst tot Voorst and reappoint Mr E.H. baron van Tuyll van Serooskerken as members of the company’s Supervisory Board. Mr Van Voorst tot Voorst will succeed Mr F.J.M. Houben, who stood down at his own request.
With respect to the company’s remuneration policy, the shareholders approved the proposed change, which means that, within the framework of the remuneration structure for the members of the Managing Board, the variable component of their remuneration will be reduced from 28% to 15% with effect from 1 January 2010.
During the meeting, subject to approval by the Dutch Central Bank, Ms L.M.T. van Velden was appointed to the Managing Board with effect from 1 January 2010, to serve a four-year term of office. She will succeed Mr A.J.M.M. Van Cleef, who will stand down effective 1 January 2010, having reached retirement age.
The main objective of Nederlandse Waterschapsbank N.V. (NWB) is to provide the best and most cost-effective funding to the Dutch public sector. Thanks to its solid status and financial expertise, the bank is in a position to attract more than sufficient funds at favourable terms on the international financial markets. Complementing this is the extremely low overhead structure of NWB. The bank’s aim is not to achieve maximum profits, but rather the best possible results in keeping with its character.
Press contact: Ms H.N.W. van Rooijen, General Counsel
telephone: +31 70 416 62 06, e-mail: info@nwbbank.com
The Hague, 23 April 2009
