Rotterdam, the Netherlands, 27 August 2009
Further to the agreement with a group of investors on a renewed cumulative financing preference shares program (the “2009 Program”) as announced on 9 July 2009, the Extraordinary General Meeting of Shareholders of Vopak held on 27 August 2009 passed the following resolutions:
- Approval of the proposed issuance of 1,249,000 financing preference shares to Stichting Administratiekantoor Financieringspreferente Aandelen Vopak, under the obligation to issue 1,249,000 depositary receipts for financing preference shares to the investors in the 2009 Program and furthermore under the obligation to pay up an amount of EUR 6,637,198.07;
- Approval of the proposal to exclude the pre-emptive rights of shareholders in respect of this issue;
- Approval of the proposal to authorise the Executive Board of Vopak to repurchase depositary receipts for preference shares, in view of the intended repurchase of 4,445,000 depositary receipts for the 2005 Financing Preference Shares held by the investor that will not participate in the 2009 Program; and
- The amendment of the Articles of Association to formalise the arrangements relating to the 2009 Program was approved.
As a result of these resolutions, a new programme for preference shares will take effect on 31 August 2009, with the total outstanding amount increased by EUR 84 million to EUR 110 million. The dividend rate has been set at 7.45% and will, in case of continuation of the program, be reviewed every five years and the preference shares under the 2009 program will qualify as equity according to the current IFRS standards.
Profile Vopak
Royal Vopak (Vopak) is the world’s largest independent tank terminal operator specialising in the storage and handling of liquid and gaseous chemical and oil products. On request, Vopak can provide complementary logistics services for customers at its terminals. Vopak operates 80 terminals with a storage capacity of more than 27 million cbm in 32 countries. The terminals are strategically located for users and the major shipping routes. The majority of its customers are companies operating in the chemical and oil industries, for which Vopak stores a large variety of products destined for a wide range of industries.