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Corio enhances Corporate Governance structure



2012-12-10 18:57:21 -


In light of Corio's best in class ambitions in all areas, Corio reviewed its
corporate governance structure. As a result, Corio will propose a number of
changes to the shareholders during the Annual General Meeting (AGM) to be held
on 18 April 2013.

The first and most significant amendment concerns the proposed abolition of the
large company regime that is currently incorporated within Corio in combination
with granting the General Meeting the authority to approve an appointment or
dismissal of a member of the Management Board and Supervisory Board as proposed
by the Supervisory Board. An appointment or dismissal of a member of the
Management Board and Supervisory Board which is not proposed by the Supervisory
Board can be approved by the General Meeting by qualified majority of 2/3 of the
votes representing more than 50% of the issued share capital. The second
amendment is that investments and divestments of more than 20% (currently
33.33%) of the total balance sheet will be put before the General Meeting for
approval.

The necessary amendments to the Articles of Association that are required to
implement these changes in the corporate governance structure will be put
forward to the AGM. The authorization of Corio to issue or buy its own shares
remains unlimited. However, Corio will adopt the policy to limit, in line with
market practice, its authorization to 10% of the issued shares for a period of
18 months in case of general share issuance and buybacks and an additional 10%
of the issued shares in case of share issuance for M&A purposes.

Corio's major shareholder APG has already indicated that it supports all
proposed changes.

Press release:
hugin.info/134201/R/1663846/539655.pdf



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Source: Corio NV via Thomson Reuters ONE
[HUG#1663846]


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