As NN Group announced on 17 August 2017, itsshareholders were given the option to receive the interim dividend for 2017 of EUR0.62 per ordinary share either in cash or in ordinary shares.
Shareholders who have electedto receive the interim dividend in shares will receive one NN Group N.V.ordinary share for every 53.81 ordinary shares held. The stock fraction is basedon the volume-weighted average price of EUR 33.3628 for NN Group shares onEuronext Amsterdam for the five trading days from 29 August 2017 up to andincluding 4 September 2017. Any remaining stock fractions will be paid in cash.The stock and cash dividend are approximately equal in value. For shareholdersthat have not made a choice during the election period, the dividend will bepaid in cash.
Shareholders representingapproximately 37.5% of the outstanding number of shares have elected to receivethe interim dividend in ordinary shares. Consequently, 2,346,671 new ordinary shares will be issued as stock dividend.
NN Group will neutralisethe dilutive effect of the stock dividend through the repurchase of ordinaryshares for a total amount of EUR 78 million, equivalent to the value of thestock dividend. These share buybacks will be executed by financialintermediaries under an open market share buyback programme which is expectedto end by 31 December 2017. The shares will be repurchased at a price that doesnot exceed the last independent trade or the highest current independent bid onEuronext Amsterdam. The share buyback programme will be executed within thelimitations of the existing authority granted by the General Meeting on 1 June2017, and will be performed in compliance with the safe harbour provisions forshare buybacks.
NN Group intends to cancelall of the repurchased shares acquired under the programme. NN Group willreport on the progress of the share buyback programme on its corporate website on a weekly basis.
Payment of the dividend incash and settlement of fractions in cash, after deduction of statutorywithholding tax if applicable, and the transfer of the new ordinary shares willtake place on 11 September 2017. For further information.
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NN Group is an international insurance and asset management company, active in 20 countries, with a strong presence in a number of European countries and Japan. With all our employees the Group offers retirement services, pensions, insurance, investments and banking to approximately 17 million customers. NN Group’s main brands are Nationale-Nederlanden, NN, Delta Lloyd, NN Investment Partners, ABN AMRO Insurance, Movir, AZL, BeFrank and OHRA. NN Group is listed on Euronext Amsterdam (NN).
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All figures in this document are unaudited. Small differences are possible in the tables due to rounding. Certain of the statements contained herein are not historical facts, including, without limitation, certain statements made of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those in such statements due to, without limitation: (1) changes in general economic conditions, in particular economic conditions in NN Group’s core markets, (2) changes in performance of financial markets, including developing markets, (3) consequences of a potential (partial) break-up of the euro or European Union countries leaving the European Union , (4) changes in the availability of, and costs associated with, sources of liquidity as well as conditions in the credit markets generally, (5) the frequency and severity of insured loss events, (6) changes affecting mortality and morbidity levels and trends, (7) changes affecting persistency levels, (8) changes affecting interest rate levels, (9) changes affecting currency exchange rates, (10) changes in investor, customer and policyholder behaviour, (11) changes in general competitive factors, (12) changes in laws and regulations and the interpretation and application thereof, (13) changes in the policies and actions of governments and/or regulatory authorities, (14) conclusions with regard to accounting assumptions and methodologies, (15) changes in ownership that could affect the future availability to NN Group of net operating loss, net capital and built-in loss carry forwards, (16) changes in credit and financial strength ratings, (17) NN Group’s ability to achieve projected operational synergies, (18) catastrophes and terrorist-related events, (19) adverse developments in legal and other proceedings and (20) the other risks and uncertainties contained in recent public disclosures made by NN Group.
Any forward-looking statements made by or on behalf of NN Group speak only as of the date they are made, and, NN Group assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or for any other reason.
This document does not constitute an offer to sell, or a solicitation of an offer to buy, any securities.
