Extraordinary general meeting of BinckBank sees all resolutions passed

Maria Nikolova

The termination of the listing of BinckBank shares on Euronext Amsterdam will be effective as of September 26, 2019.

BinckBank, which has been part of the Saxo Bank Group since August 2019, has just announced the results of the extraordinary general meeting held earlier today.

Let’s recall that the agenda of the meeting included:

  • 1. Opening.
  • 2. Update of the recommended public offer made by Saxo Bank for BinckBank (the “Offer”) (discussion item).
  • 3. Amendment of the articles of association of BinckBank (the “Articles”) following delisting from Euronext Amsterdam (voting item).
  • 4. Cancellation of shares repurchased by BinckBank (voting item).

The extraordinary general meeting of BinckBank N.V. held on 25 September 2019 has adopted the resolutions as proposed in the agenda. The resolutions include the following:

  • Agenda item 3: Amendment of the articles of association following delisting from Euronext Amsterdam;
  • Agenda item 4: Cancellation of shares repurchased by BinckBank.

As previously guided, today is the last day BinckBank shares are traded at Euronext Amsterdam. This means that the termination of the listing of BinckBank shares will be effective as of September 26, 2019.

In December 2018, Saxo Bank announced that it intended to acquire BinckBank and to form a larger and stronger organization. Following the approval of regulators and strong shareholder acceptance, the acquisition was formally completed on August 7, 2019.

BinckBank is now set to significantly expand its services in Spain via the launch of a special investment platform designed to serve European expats living or staying in the country. The new platform is based on Saxo Bank’s technology and is the first major joint commercial project following the acquisition of BinckBank by Saxo Bank.

There have been management changes at BinckBank related to the deal with Saxo. Steven Clausing stepped down as a member of the board of BinckBank in connection with the public offer by Saxo Bank. The change was effective September 1, 2019.

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