Delta Lloyd N.V. ("Delta Lloyd") noted the publication on 1 March 2016 by Highfields Capital ("Highfields") of a document setting out its reaction to our capital plan as presented on 24 February 2016. In a letter addressed to all shareholders posted on Delta Lloyd`s website today, the Supervisory and Executive Boards of Delta Lloyd fundamentally disagree with the content of Highfields` analysis and the conclusion to vote against the proposed rights issue. The Boards are unanimous in recommending shareholders to vote in favour of Delta Lloyd`s proposed rights issue. The largest and most influential proxy advisors used by institutional investors, ISS and Glass Lewis, also advise to vote in favour of the rights issue.
Hans van der Noordaa, chairman of the Executive Board: "Over the last months we have worked extensively and in great detail to develop our capital plan, and as part of that determine the size of the rights issue, taking into account a responsible assessment of the requirements of all of our stakeholders. We believe that Highfields` analysis is ill-founded and their conclusions are inappropriate for a regulated business such as Delta Lloyd. We remain focused on driving long term value for shareholders and believe that the capital plan we announced will create a sound basis for doing so."
Important information
The information contained herein is not for release, publication or distribution, directly or indirectly, in or into any jurisdiction in which the distribution or release would be unlawful.
This press release does not constitute an offer to sell, or a solicitation of offers to purchase or subscribe for, securities in the United States or any other jurisdiction. The securities to be offered in the proposed rights offering have not been, and will not be, registered under the Securities Act of 1933 (the "Securities Act"), as amended, and may not be offered, exercised or sold in the United States absent registration or pursuant to an applicable exemption from or in a transaction not subject to, the registration requirements of the Securities Act. There is no intention to register any portion of the offering in the United States or to conduct a public offering of securities in the United States.
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Source: Delta Lloyd via GlobeNewswire
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