Aegon completes conversion of preferred shares
On February 15, 2013, Aegon and Vereniging Aegon ('the Association') announced their agreement to cancel all of Aegon's preferred shares, of which the Association was the sole owner.[node:field_featured_media:entity:field_media_image]
Following the approval of the new capital structure by the Annual General Meeting of Shareholders on May 15, 2013, Aegon has now exchanged all preferred shares for EUR 400 million in cash, the equivalent of EUR 655 million in common shares and EUR 83 million of dividends on the preferred shares.
Based on the volume-weighted average price of Aegon common shares on Euronext Amsterdam of EUR 4.86, which was announced on March 1, 2013, the preferred shares have been converted into 121 million common shares and 566 million common shares B. Following the conversion, the Association holds a total of 293 million common shares and 566 million common shares B. A total of 2,086 million* common shares are outstanding. The Association has 14.7% of the voting rights in ordinary course.
Further details of the transaction between Aegon and the Association can be found in the announcements of February 15, 2013 and March 1, 2013 and in the agenda of the AGM, which are available on aegon.com.
* Includes 14 million common shares which represent the economic equivalent of 566 million common shares B.