Belgium: Ackermans & van Haaren Announces Redemption of Shares

The extraordinary shareholders’ meeting of Ackermans & van Haaren NV has on 25 November renewed the powers delegated to the board of directors to redeem shares for a period of 5 years.

In the framework of these powers, the company has in the period from 14 until 22 December redeemed a total of 38,000 shares on NYSE Euronext Brussels. The redemption of shares serves to cover the obligations of the company under the stock option plan for the management and executives of Ackermans & van Haaren and its affiliated companies.

Ackermans & van Haaren is a diversified group active in 5 key sectors: contracting, dredging and concessions (DEME, one of the largest dredging companies in the world – Algemene Aannemingen Van Laere, a leading contractor in Belgium), real estate and related services (Leasinvest Real Estate, a listed real-estate investment trust – Extensa, an important land and real estate developer focused on Belgium, Luxemburg and Central Europe), private banking (Delen – Private Bank, one of the largest independent private asset managers in Belgium – Bank J.Van Breda & C°, niche bank for entrepreneurs and liberal professions), private equity (Sofinim and GIB) and a recent development in energy and materials. The AvH group represented in 2010, through its share in the participations, a revenue of 2.8 billion euros and employs approximately 17,000 people. The group concentrates on a limited number of strategic participations with an important potential for growth. The AvH share is part of the BEL20 index, the Private Equity NXT index of Euronext Brussels and the European DJ Stoxx 600.

[mappress]

Dredging Today Staff, December 23, 2011; Image: avh