The company’s share capital consists of ordinary shares and cumulative preference shares. All shares are registered and no share certificates are issued. As at year-end 2012, there were 15,699,017 KAS BANK ordinary shares in issue (unchanged from year-end 2011). In addition, 25 cumulative preference shares have been issued to Stichting Preferente Aandelen KAS BANK. Most of the ordinary shares in the company’s issued capital (approximately 99.5% as at year-end 2012) are managed and administered by KAS BANK Registrar’s Office, which has issued the same number of registered depositary receipts in exchange.
The nominal value of KAS BANK shares and depositary receipts is one euro (€ 1.00). Each share and depositary receipt entitles the holder to cast one vote. No special controlling rights attach to the shares or depositary receipts. No voting rights attach to KAS BANK shares and depositary receipts held by the company itself.
The ordinary shares, in the form of depositary receipts, have been listed on the Official Market of the NYSE Euronext Amsterdam N.V. stock exchange since 1986. KAS BANK is part of the Amsterdam Smallcap Index (AScX index) of NYSE Euronext.
Dividend policy
In accordance with the dividend policy discussed with the General Meeting of Shareholders, our target is to distribute 60-80% of the net result, where the profit permits and unless prevented by exceptional circumstances.
5%-holdings
The following institutions have given notification of holdings of 5% or more in KAS BANK pursuant to the Financial Supervision Act and the Decree on Disclosure of Control and Major Holdings in Listed Companies.
- Delta Lloyd: 12.2%
- APG Algemene Pensioen Groep N.V.: 8.8%
- ING Groep N.V. : 7.9%
- All Capital Holding: 5.3%
- Jan Plas S.A. (Conservatrix): 5,0%
- KAS BANK N.V.: 5.1%