What exactly does a StAK do?

A StAK ensures that the legal and economic rights of shares are split. The economic right to profit and the legal voting right, which shareholders normally have at their disposal, are separated by certifying the shares and placing these certificates for management within the StAK.

Where the StAK manages the shares in the certificate holders’ register for the certificate holders, the regular shareholders still keep their shares themselves. For example, the StAK will pay dividends to the holders of depositary receipts and the board of the StAK will retain the voting rights instead of the holders of depositary receipts.

A StAK also offers the possibility to determine the conditions under which the certificates are issued. These specific provisions for the Stichting Administratiekantoor Erasmus Personnel Participations can be found in the articles of association and the trust conditions. These documents will be shared as soon as you have come into contact with the StAK.

Purpose of the StAK

The StAK was founded with the aim to advise, represent and help to mitigate conflicts of interest. In addition, the Stichting Administratiekantoor Erasmus Personeelsparticipaties has a number of established objectives under the articles of association:

– The acquisition of shares in companies against the issue of registered depositary receipts;

– Managing the shares referred to above;

– Exercising all rights attached to the shares, such as receiving all possible distributions and exercising voting rights;

– Implementing the participation schemes established from time to time by the Board of Directors;

– Performing all further actions that are related to the above in the broadest sense or that may be conducive to it.