Rabobank announces a distribution in the form of Rabobank Certificates in early December 2020
The Executive Board of Rabobank has decided to make an exceptional distribution of the approximate equivalent of EUR 1.625 per Rabobank Certificate, in the form of Rabobank Certificates in early December 2020. This announcement is a follow-up on the intention to make such a distribution, as communicated on 21 October 2020.
The Executive Board made the decision about this exceptional distribution at its full discretion. Rabobank hereby informs holders about the details and relevant dates of the distribution. Rabobank Certificates will trade ex-distribution as of 4 December 2020 (ex-date) at Euronext Amsterdam. The record date will be 7 December 2020.
The number of Rabobank Certificates entitled to one new Rabobank Certificate (the distribution ratio) will be determined by dividing the volume-weighted average prices of all traded Rabobank Certificates at Euronext Amsterdam on 1, 2, and 3 December 2020 (VWAP) by the distribution amount of EUR 1.625. Rabobank will adjust the VWAP by reducing it by EUR 1.625. This will correct for the fact that the VWAP is based on prices prior to the ex-date, which still reflect the value of the upcoming exceptional distribution. If the number of new Rabobank Certificates to be distributed to a holder does not correspond to a whole number of Rabobank Certificates, the fractions shall be settled in cash.
The distribution ratio will be announced on www.rabobank.com/certificates prior to trading hours on 4 December 2020. New Rabobank Certificates will be issued and delivered to the clearing systems on 8 December 2020. Delivery of the new Rabobank Certificates and cash fractions (if applicable) to holders will take place as of 9 December 2020.
The newly issued Rabobank Certificates will have the same terms as, and will be fungible with current outstanding Rabobank Certificates.
The following timetable applies for Euronext Amsterdam. Different ex-dates could apply for other trading platforms.
4 December 2020 Announcement of the distribution ratio and ex-date
7 December 2020 Record date
8 December 2020 Issuance of new Rabobank Certificates
As of 9 December 2020 Delivery of new Rabobank Certificates and cash fractions to holders
Euronext Amsterdam may at any time change the trading mode for Rabobank Certificates after this and any future announcement of Rabobank. Further information about the Rabobank Certificates and the trading mode as applied by Euronext Amsterdam is available on www.rabobank.com/certificates.
Elements of this press release are considered by Rabobank as inside information relating directly or indirectly to Rabobank within the meaning of article 7 of the Market Abuse Regulation (EU Regulation 596/2014) that is made public in accordance with article 17 Market Abuse Regulation.