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Wereldhave NV announces Preference Shares
| Source: Wereldhave NV
THE HAGUE, THE NETHERLANDS--(Marketwire - June 25, 2008) - A proposal to proceed to cancel
the currently outstanding preference shares of Wereldhave N.V. will be put
to the Annual General Meeting of Wereldhave N.V. to be held in 2009.The
rationale for cancellation is that the listing of preference shares of an
investment company with variable capital is no longer required and that the
preference shares have a very limited liquidity. In addition, the
determination of voting rights during the shareholders' meeting is very
complicated because of the difference in nominal value compared to the
ordinary shares. Finally, the cancellation also serves to optimise the
protective function of the preference shares, such in the light of the
Public Offers of Securities Act. The possibility of issuing preference
shares and/or priority shares is maintained.
The Articles of Association provide that in the event of cancellation, the
compensation paid on the shares amounts to the fully paid-up part of the
nominal value, i.e. EUR 2.27 per share. In addition, the compensation in
the event of cancellation includes the dividend determined under the
Articles of Association for the proportionate part of the year that has
elapsed up to cancellation, after deduction of the applicable withholding
taxes.
The Hague, June 25, 2008
Board of Management Wereldhave N.V.