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Why does Triodos Bank NV issue Depository Receipts through SAAT?

The Bank’s principles and independence are guaranteed through a special shareholding trust, SAAT, which protects the social and environmental mission of the Bank. All shares are issued to the Issuer, which issues one Depository Receipt for one share. The Issuer holds the voting rights on the shares, in order to protect the identity and working method of the Bank. As regards voting rights, there are no differences between the shares. Except for direct voting, the Depository Receipts have the same economic rights as the underlying shares.

No individual holder is allowed to hold any more than 10% of the total amount of Depository Receipts issued.

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