At Wednesday´s Annual General Meeting of Shareholders of Rodamco Asia NV (RA), the dividend proposal for the financial year 2003/2004 that ended on 29 February 2004 and other proposed changes to the structure of Rodamco Asia were adopted by shareholders.
Shareholders adopted the dividend proposal of a cash dividend of EUR 0.52 per share.
As of Friday 25 June 2004, the shares of Rodamco Asia (the Company) will be quoted ex-dividend. The dividend will be payable from 9 July 2004.
Change to external management
The general meeting approved the proposal to enter into a management agreement with ING Real Estate for the provision of external services to the Company. As of 2 June 2004, ING Real Estate owns more than 95% of Rodamco Asia shares.
Changes to the Management Board
At the general meeting, Mr Frans A. Bakker retired as a member of the Management Board. Three new members were appointed to the Management Board for a two-year term, subject to AFM approval, in view of their expertise in real estate. They are Mr Robert Lie, Mr Tjeerd Borstlap and Mr Nico Kop. The other members of the Management Board are Mr Ton de Boer and Mr Larry Chua K.C.
Changes to the Supervisory Board
At the general meeting, Mr Alan C. Hill, Mr Rob van Gelder and Mr Kyung-Man Huh retired as members of the Supervisory Board. Mr J.E. Jansen was re-appointed as Chairman of the Supervisory Board. The proposal to appoint Mr Richard Price and Mr Evert H. Vink as Supervisory directors was adopted by shareholders.
The meeting further adopted the proposal on the remuneration structure for the new Supervisory Board, whereby Mr Price will receive no remuneration while Mr Jansen and Mr Vink will receive an annual remuneration commensurate with current Company policy.
Changes to the Articles of Association
Shareholders approved amendments to the Articles of Association, which mainly relate to (i) the fact that after the proposed amendment of the Articles of Association the Company will no longer be an investment company with variable capital as meant in Section 76a of Book 2 of the Netherlands Civil Code, (ii) the fact that the financial year of the Company will be changed to a calendar year, (iii) the change of location of the registered office of the Company to The Hague and (iv) other amendments of a technical and textual nature.
Source: Rodamco Asia