Voting rights and denominator
The Extraordinary General Shareholders’ Meeting of 8 May 2020 approved the introduction of the double voting right. A double voting right is therefore granted to each VGP share that has been registered for at least two years without interruption under the name of the same shareholder in the register of shares in registered form, in accordance with the procedures detailed in article 29 of the Articles of Association. In accordance with Belgian law, dematerialised shares do not benefit from the double voting right.
In accordance with Articles 7:217 and 7:224 of the Code on companies and associations, voting rights attached to VGP shares held by the company itself or by its subsidiaries have been suspended.
VGP has not issued any other class of shares, such as non-voting or preferential shares.
In accordance with Article 15 of the law of 2 May 2007 regarding the publication of major shareholdings (“transparency law”) VGP must publish, its (i) total share capital, (ii) the total number of securities granting voting rights and (iii) the total number of voting rights, at the latest by the end of each month during which these numbers have increased or decreased.
This information allows VGP’s shareholders to check whether their shareholding has fallen below or risen above one of the total voting right thresholds of 5%, 10%, 15% … (and other multiples of 5) and whether they are therefore obliged to declare the crossing of a threshold. VGP has made use of the possibility offered by the “transparency law” to introduce in its articles of association a more restrictive threshold of three percent (3%) in addition to the thresholds with respect to the transparency obligations imposed by law.
For further information about transparency declaration obligations, refer to the provisions of the law and the royal decree of 14 February 2008 regarding the disclosure of major shareholdings.