NLFI announces fifth trading plan to further reduce stake in ABN AMRO
- Investor Relations
Jarco de Swart
Head Media relations
Today, NLFI (stichting administratiekantoor beheer financiële instellingen), the depositary receipt holder of the Dutch State’s stake in ABN AMRO, announced its intention to sell depositary receipts in ABN AMRO through a trading plan.
NLFI has explained that the trading plan aims to reduce its stake in ABN AMRO from 20,7% to 10,5%. At some point during the execution of the trading plan, NLFI’s stake in ABN AMRO may fall below 15% of the total issued share capital. The Relationship Agreement between NLFI and ABN AMRO provides that, if NLFI’s stake falls below 15%, new arrangements regarding NLFI’s information rights will be agreed upon in good faith.
NLFI and ABN AMRO have agreed that NLFI will retain its current information rights for as long as NLFI holds a stake of 10% or more in ABN AMRO. As soon as NLFI's stake in ABN AMRO falls below 10%, the Relationship Agreement will terminate.
The new trading plan is the fifth consecutive trading plan following earlier sell-downs via accelerated book buildings since ABN AMRO’s IPO in November 2015.The Dutch State has previously announced that it intends to gradually reduce its stake (through NLFI) in ABN AMRO over time.