Special shares

Shares with specific voting rights

The N1 and N2 shares were also issued at the time the Dutch State joined as shareholder. These shares were issued to the Dutch State (N1) and the municipality of Rotterdam, as chair of the Shareholders’ Committee (N2). The N1 share can only be held by the Dutch State. No requirements are imposed on the holder of the N2 share, except the exclusion of the Dutch State as shareholder. The N2 share is in principle reserved for the chair of the Shareholders’ Committee, which role is currently filled by the municipality of Rotterdam.

The N1 share entitles the holder to a casting vote on certain decisions, approval of an amendment to the articles of association or dissolution of the company. In addition, the holder of the N1 share is the only party allowed to apply for a review of the Financing Plan.

The N2 share entitles the holder to apply for a review of board resolutions.

The voting rights attached to the N2 share, right to participate in the General Meeting of Shareholders, right to distributions and other rights attached to the N2 share are suspended if and for as long as the N1 rights are suspended.

Shares with limited profit-sharing rights

The N1 and N2 shares have limited profit-sharing rights. Annual distributions of 1% of the nominal value (€ 100) of the share are allocated to the N1 and N2 shares first. No further distributions will be made on the N1 and N2 shares.