Triodos Bank believes that it is crucial that its mission and independence are protected. All the Bank’s ordinary shares (‘Shares’) are held in a special trust called the Foundation for the Administration of Triodos Bank Shares, or SAAT to use its Dutch abbreviation. This body makes sure that decisions about financial profit are not made at the expense of the Bank’s social and environmental goals.
Shares in Triodos Bank are held by investors through depository receipts. SAAT issues these depository receipts for Triodos Bank Shares to individuals and institutions.
If you choose to invest you will own depository receipts issued by SAAT representing Shares in Triodos Bank N.V. As well as issuing depository receipts, SAAT exercises all of the voting rights for Triodos Bank Shares.
The depository receipts are not listed on any stock exchange. Instead, Triodos Bank maintains its own platform for trading in depository receipts. Triodos Bank can buy back for 28.2 million euro of the outstanding depository receipts in case it receives more redemptions than subscriptions from depository receipt holders. In the event that Triodos Bank buys back 28.2 million euro of the outstanding depository receipts and it still receives more redemptions than subscriptions, Depository Receipt Holders have to wait before they can redeem their depository receipts until there is renewed demand for the depository receipts. This situation has not occurred over the last 10 years.
