Fortis settlement declared binding
13 Juli 2018 - 7:30PM
Today the Amsterdam
Court of Appeal declared the Fortis settlement entered into between
Ageas, Stichting FORsettlement and the claimant organisations (i.e.
Vereniging van Effectenbezitters, Deminor, Stichting Investor
Claims Against Fortis (SICAF) and Stichting FortisEffect)
binding.
This decision means that Eligible
Shareholders (i.e. persons who held Fortis Shares at any time
between close of business on 28 February 2007 and close
of business on 14 October 2008) are entitled to
compensation for the events of 2007-2008 subject to a full release
of liability with respect to these events, and in accordance with
the (other) terms of the settlement agreement.
Further practical details about
the settlement and steps to be taken by Eligible Shareholders will
be announced in a separate press release next Monday 16 July 2018
and on FORsettlement.com.
Commenting on the
outcome, Bart De Smet, Ageas CEO, said: "We're
very pleased with the Court's decision. Finally we can bring this
part of the Fortis legacy to a close in the interest of all former
Fortis shareholders as well as Ageas and its stakeholders. The
settlement enables us to regain our full strategic and financial
flexibility and to focus entirely on our core business:
insurance."
For all relevant information about
the settlement and any updates on timing, please refer to the
dedicated website FORsettlement.com. Any questions regarding this
settlement may also be sent to:
forsettlement@computershare.com.
Ageas is a
listed international insurance Group with a heritage spanning 190
years. It offers Retail and Business customers Life and Non-Life
insurance products designed to suit their specific needs, today and
tomorrow. As one of Europe's larger insurance companies, Ageas
concentrates its activities in Europe and Asia, which together make
up the major part of the global insurance market. It operates
successful insurance businesses in Belgium, the UK, Luxembourg,
France, Portugal, Turkey, China, Malaysia, India, Thailand,
Vietnam, Laos, Cambodia, Singapore, and the Philippines through a
combination of wholly owned subsidiaries and long term partnerships
with strong financial institutions and key distributors. Ageas
ranks among the market leaders in the countries in which it
operates. It represents a staff force of over 50,000 people and
reported annual inflows close to EUR 34 billion in 2017 (all
figures at 100%).
Pdf version of the press
release
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Ageas via Globenewswire
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