ING Groep N.V.

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Publicatie datum 05 mrt 2008 - 09:15

Statutaire naam ING Groep N.V.

Titel ING launches Tender Offer for preference shares A

Bericht ING announced today the tender offer for the 6,012,839 issued and outstanding (depositary receipts of) preference shares A of ING Groep N.V., with a nominal value of EUR 1.20 each. The purchase price for each share offered in accordance with the Tender Offer is EUR 3.60, or EUR 21,6 million in total. The offer price is in line with the earlier buy backs of preference shares ING has completed and represents a premium of approximately 20 percent on the closing price on Tuesday 4 March 2008. The purpose of the intended buy back of the preference A shares is to simplify the corporate ownership and capital structure of ING on a one-share-one-vote basis. Furthermore, ING intends to optimise its capital structure and therefore ING no longer needs preference shares as a source of financing. The purchase of the preference A shares has no significant impact on ING Group’s earnings or key ratios and will not impact the ongoing share buy back programme for ordinary ING shares. The offer period commences on 5 March 2008 and ends at 26 June 2008 unless extended or earlier terminated in accordance with the terms of the Offer. On 22 April 2008, ING will propose to its annual general meeting of shareholders the cancellation of all preference A shares, including those not offered under the Tender Offer, which is in accordance with the Articles of Association of ING Group. Shareholders who do not tender their shares and whose shares will – subject to the approval by the annual general meeting of shareholders of ING – be cancelled, will receive EUR 3.40 plus EUR 0.1068 of accrued gross dividend for each preference A share. The amount of the accrued dividend is calculated as from 1 January 2008 and is based upon the expectation that cancellation takes place on 4 September 2008. ING has appointed ING Bank N.V. to act as Tender Agent in connection with the Tender Offer. The Offer Memorandum setting out the terms and conditions of this Tender Offer is available as of 5 March at ING Ban

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Datum laatste update: 01 september 2024