At least once a year, Arcadis NV convenes a shareholder meeting. Meetings are convened by the Executive and/or Supervisory Board. Meetings can also be convened at the request of shareholders jointly representing at least ten percent of the Company’s issued share capital, if authorized by the relevant Dutch court. Shareholders who hold at least three percent of the issued share capital have the right to propose an item for inclusion on the agenda. The Company will in principle include the item on the agenda if it receives the substantiated proposal clearly stating the item to be discussed, or a draft resolution, in writing at least 60 days prior to the meeting date.
Each shareholder is entitled to attend shareholder meetings in person or to be represented by written proxy and to exercise voting rights with due observance of the provisions in the Articles of Association. Each outstanding share entitles the holder to one vote.
Resolutions of the General Meeting are adopted by simple majority unless the Articles of Association or the law provide(s) otherwise. Arcadis advocates active shareholder participation at shareholder meetings. Since 2007, the Articles of Association allow for communication and voting by electronic means.
The main powers of the General Meeting are:
i. To adopt the annual accounts;
ii. To decide on payment of dividend;
iii. To appoint and dismiss the external auditor;
iv. To appoint, suspend, and dismiss members of the Executive and Supervisory Boards;
v. To determine the remuneration of the Supervisory Board;
vi. To adopt the remuneration policy for the Executive Board;
vii. To resolve on the issuance of shares and the grant of rights to acquire shares (options), as well
as to exclude or limit related pre-emptive rights (options), or to delegate such authorities to
the Executive Board for a certain period;
viii. To authorize the Executive Board to have the Company acquire shares in its own share capital;
ix. To cancel shares;
x. To amend the Articles of Association or to liquidate the Company.
Some of the powers of the General Meeting set out above are subject to approval by the Supervisory Board, the Priority Foundation and/or a proposal by the Executive Board.
In line with section 2:107a of the Dutch Civil Code the General Meeting has the right to approve decisions of the EB that result in an important change in the identity or character of the Company or its enterprise, including in any case:
i. the transfer of the business of the Company or almost the entire business of the
Company to a third party;
ii. the entry into or breaking off of any long-term co-operation of the Company or
any subsidiary of the Company with another legal entity or partnership or as a
fully liable partner in a partnership, if such co-operation or breaking off thereof
is of far-reaching significance for the Company;
iii. the acquisition or disposal of a participating interest by the Company or by a
subsidiary of the Company in the capital of another company with a value of at
least one third of the assets in accordance with the consolidated balance sheet
with explanatory notes in accordance with the most recently adopted annual
accounts of the company.
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