Review launched into sale or alliance for BPO (Business Process Outsourcing) and software and licensing activities of Able BV

As part of a proposed divestment, BinckBank is initiating a review of the options for a sale or alliance for its non-banking activities, which comprise the BPO and software & licensing activities. The software and licensing activities are performed by Able B.V., an independent unit of BinckBank NV The BPO services are provided by BinckBank NV (Professional Services). The aforesaid units operate jointly in the market under the name "Able".

With the proposed divestment, BinckBank is according strategic priority to an accelerated realisation of its Retail strategy for the (European) online brokerage and asset management services.

Able is the market leader in the Netherlands in the field of the aforesaid non-banking activities, which require further investment to become profitable. A potential sale or alliance with other parties will provide a better basis for Able`s non-banking activities to realise the potential built up by this unit of BinckBank (Professional Services). Able`s management supports the review and would welcome an acquisition or alliance with other parties. Able`s services to independent wealth managers and their (retail) customers are not part of the review.

Advice will be requested to the Works Councils of BinckBank NV and Able BV.

In the review, BinckBank will protect the interests of all stakeholders, including employees, customers and shareholders, as much as possible. The quality of services to professional customers will be safeguarded, regardless of the outcome of the review.

BinckBank will be assisted by Kempen & Co and others in the review.

BinckBank will inform the market of the results of the review as soon as there is cause for doing so.

Conference call
BinckBank will provide further information in a Conference Call at 10.00 a.m. Parties interested in participating can register via pers@binck.nl.

Click here for full press release

---

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: BinckBank N.V. via Thomson Reuters ONE
HUG#1742094