Triodos Bank will not offer Depository Receipts or issue any new shares in connection with the Listing. With this Listing Triodos Bank aims to make trading in Depository Receipts more accessible for existing and new investors.
Last day of trade MTF and technical reference price
As previously communicated, 11 June 2025 was the last trading day on the multilateral trading facility operated by Captin B.V. (the “MTF”).
A so-called ‘technical reference price' will be announced by Euronext Amsterdam before the first day of trading in the Depository Receipts on Euronext Amsterdam. The technical reference price on Euronext Amsterdam will be the same as the closing price on the MTF. This should not be construed as indicative of the future trading prices of the Depository Receipts.
Publication of the Prospectus
The prospectus, approved by the Netherlands Authority for the Financial Markets, the AFM is available electronically via the website of Triodos Bank or via the website of Euronext Amsterdam N.V. The prospectus reflects on a number of topics, including Triodos Bank’s strategy and litigation.
Strategic update
Triodos Bank has sharpened its strategic focus. Our strategy focuses on three key pillars designed to deliver sustained growth and enhanced efficiency.
- Safeguard its position at the forefront of impact finance
Triodos Bank aims to achieve this by maintaining, strengthening and effectively communicating its distinctiveness across the five transition themes in the market. By enabling and supporting customers to create positive impact, and leveraging and strengthening networks of like-minded partners, Triodos Bank aims to multiply and accelerate system change in these five selected transition areas. With its “proud to show, nothing to hide” transparent impact reporting approach, it aims to accelerate system change and inspire others. - Pursue focused growth
Triodos Bank is sharpening its commercial footprint that delivers meaningful propositions and customer experiences at scale. It is making conscious capital allocation choices across product-market combinations to achieve optimal positive impact for its stakeholders. As part of this focus, Triodos Bank will re-assess its product-market combinations and its geographical footprint. The re-assessment of geographical footprint may have impact on Triodos Bank’s business in Germany. - Drive an efficient and robust operating model
The third pillar is to drive an efficient and robust operating model, ensuring a fit-for-purpose cost structure and the development of adaptive and robust technology and data infrastructure. Triodos Bank’s new target operating model further matures towards a fit-for-purpose cost structure by harmonising, standardising, and simplifying its international operations. Triodos Bank continues to focus on remediating compliance shortfalls and advancing towards compliant-by-design solutions to ensure future control. It will further invest in process digitalisation, modern and resilient technology infrastructure and partner selectively to gain scale and market-leading capabilities.
Update on Depository Receipt litigation and settlement offer
The Spanish Supreme Court recently ruled in favour of Triodos Bank in three individual cases, confirming that the Bank had adequately informed investors setting a positive precedent for similar claims in Spain. Following the decision of the Spanish Supreme Court, as of 11 June 2025, a total of 326 out of 924 lawsuits have already been finally closed. Further details on all litigation developments are outlined in the prospectus.
As part of a broader package of measures agreed with Stichting Certificaathouders Triodos Bank (SCTB), Triodos Bank launched a settlement offer for eligible Depository Receipt Holders on 16 April 2025. The offer includes a one-off payment of EUR 10 per Depository Receipt in exchange for full and final discharge of legal claims. These measures also include governance improvements, enhanced communication, and support to Depository Receipt Holders during the transition to Euronext. As of 11 June 2025, approximately 7.7 million Depository Receipts have been registered for the offer. The acceptance portal remains open until mid-July 2025.
Earlier announcements related to the listing
On 5 June 2025, Triodos Bank announced its intention to list its Depository Receipts on Euronext Amsterdam as of 18 June 2025. The press release is available on Triodos Bank’s website.
Coöperatieve Rabobank U.A., in cooperation with Kepler Cheuvreux S.A. is acting as the financial advisor to Triodos Bank and ABN AMRO Bank N.V. is acting as the listing agent and liquidity provider to Triodos Bank.
Inquiries
Investors: Susanne Embleton +31 6 3934 0389
Media: Robin Boon, +31 6 3622 9088
Disclaimer
The information in this document has been obtained or derived from sources believed by Triodos Bank N.V. to be reliable at the date of publication of this document. However, no representations are made as to its accuracy or completeness. The information may be subject to change, and Triodos Bank N.V. assumes no undertaking to revise or amend the information provided, or to provide any update in respect of any change related thereto. Triodos Bank N.V. accepts no liability for loss arising from the use of the information. The information is: (i) for discussion purposes only; (ii) not to be regarded as (investment) advice; and (iii) not to be relied upon in substitution for the exercise of independent and sound judgement.
This document does not constitute any commitment or any offer to commit to any transaction or financing by Triodos Bank N.V.
This document may include forward-looking statements. All statements other than statements of historical facts may be forward-looking statements. Some of these forward-looking statements are characterised by the use of words such as (but not limited to): 'expect', 'anticipate', 'estimate', 'may', 'should', 'would', 'believe', 'intend', 'plan', 'contemplate', 'aim', 'could', 'will', 'potential', 'think', 'seek', as well as similar expressions, the future tense and the conditional. The forward-looking statements included in this document with respect to the business, results of operation and financial condition of Triodos Bank N.V. are subject to a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements, including but not limited to the following: changes in economic and political conditions, actions taken and policies applied by governments and their agencies, changes in credit spreads or interest rates, the results of our strategy and investment policies and objectives. Triodos Bank N.V. undertakes no obligation to update or revise any forward-looking statement to reflect events or circumstances that may arise after the date of this document.