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Major Shareholding Notification • Nov 9, 2020
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Major Shareholding Notification
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PRESS RELEASE
Brussels, 9 November 2020 – 17:40 (CET)
Ageas and Goldman Sachs: Transparency notification
In accordance with the rules on financial transparency*, Goldman Sachs has notified Ageas on 6 November 2020 that, on 4 November 2020, its interest has fallen below the legal threshold of 3% of the shares issued by Ageas. Its current total shareholding stands at 0.00%.
Reason for the notification
Acquisition or disposal of voting securities or voting rights Downward crossing of the lowest threshold
Notification by A parent undertaking or a controlling person
Persons subject to the notification requirement See annex 1a
Date on which the threshold is crossed 4 November 2020
Threshold that is crossed (in %) 3%
Denominator 194,553,574
Notified details See annex 1b
Chain of controlled undertakings through which the holding is effectively held, if applicable The full chain of command can be found on https://www.ageas.com/investors/shareholders
Additional information
The disclosure obligation arose due to voting rights attached to shares for Goldman Sachs going below 3%.
* article 14, paragraph 1 of the law of 2 May 2007 on disclosure of major holdings us provisions.
REGULATED INFORMATION
EURONEXT BRUSSELS Ticker: AGS ISIN: BE0974264930
MEDIA CONTACT +32 (0)2 557 57 36
INVESTOR RELATIONS +32 (0)2 557 57 32
Ageas Rue du Marquis 1 1000 Brussels - Belgium www.ageas.com
@AgeasGroup
ANNEX 1a
| Name | Address (for legal entities) |
|---|---|
| The Goldman Sachs Group, Inc. | Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801, USA |
ANNEX 1b
| A) Voting rights | Previous notification | After the transaction | |||
|---|---|---|---|---|---|
| # of voting rights | # of voting rights | % of voting rights | |||
| Holders of voting rights | Linked to securities | Not linked to the securities |
Linked to securities |
Not linked to the securities |
|
| The Goldman Sachs Group, Inc. | 0 | ||||
| Goldman Sachs International | 6,720,839 | ||||
| Goldman Sachs Asset Management, L.P. |
222,885 | ||||
| Goldman Sachs Asset Management International |
14,597 | ||||
| Goldman Sachs Asset Management (Hong Kong) Limited |
885 | ||||
| United Capital Financial Advisers, LLC | 344 | ||||
| Subtotal | 6,959,550 | ||||
| TOTAL | 0 | 0.00% |
| B) Equivalent financial instruments | After the transaction | |||||
|---|---|---|---|---|---|---|
| Holders of equivalent financial instruments |
Type of financial instrument | Expiration date Exercise period or date |
# of voting rights that may be acquired if the instrument is exercised |
% of voting rights | Settlement | |
| Goldman Sachs International | ||||||
| Goldman Sachs & Co. LLC | ||||||
| Goldman, Sachs & Co. Wertpapier GmbH |
||||||
| TOTAL |
| TOTAL (A & B) | # of voting rights % of voting rights | ||
|---|---|---|---|
| CALCULATE | 0 | 0.00% |
In accordance with the rules on financial transparency*, Goldman Sachs has notified Ageas on 4 November 2020 that, on 2 November 2020, its interest has exceeded the legal threshold of 3% of the shares in the section 10A issued by Ageas and going below the legal threshold of 3% in section 10B. Its current total shareholding stands at 6.20%.
Reason for the notification
Acquisition or disposal of voting securities or voting rights Acquisition or disposal of financial instruments that are treated as voting securities
Notification by A parent undertaking or a controlling person
Persons subject to the notification requirement See annex 1c
Date on which the threshold is crossed 2 November 2020
Threshold that is crossed (in %) 3%
Denominator 194,553,574
Notified details See annex 1d
Chain of controlled undertakings through which the holding is effectively held, if applicable The full chain of command can be found on https://www.ageas.com/investors/shareholders
Additional information
The disclosure obligation arose due to voting rights attached to shares for Goldman Sachs (section 10A) going above 3% and (section 10B) going below 3%.
* article 14, paragraph 1 of the law of 2 May 2007 on disclosure of major holdings us provisions.
ANNEX 1c
| Name | Address (for legal entities) |
|---|---|
| The Goldman Sachs Group, Inc. | Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801, USA |
ANNEX 1d
| A) Voting rights | Previous notification | After the transaction | |||
|---|---|---|---|---|---|
| # of voting rights | # of voting rights | % of voting rights | |||
| Holders of voting rights | Linked to securities | Not linked to the securities |
Linked to securities |
Not linked to the securities |
|
| The Goldman Sachs Group, Inc. | 0 | 0.00% | |||
| Goldman Sachs International | 3,256,285 | 6,720,839 | 3.45% | ||
| Goldman Sachs Asset Management, L.P. |
256,473 | 222,885 | 0.11% | ||
| Goldman Sachs Asset Management International |
14,597 | 14,597 | 0.01% | ||
| Goldman Sachs Asset Management (Hong Kong) Limited |
885 | 885 | 0.00% | ||
| United Capital Financial Advisers, LLC | 354 | 344 | 0.00% | ||
| TOTAL | 6,959,550 | 0 | 3.58% | 0.00% |
| B) Equivalent financial instruments | After the transaction | |||||
|---|---|---|---|---|---|---|
| Holders of equivalent financial instruments |
Type of financial instrument | Expiration date Exercise period or date |
# of voting rights that may be acquired if the instrument is exercised |
% of voting rights | Settlement | |
| Goldman Sachs International | Securities Lending | Open | 19,862 | 0.01% | physical | |
| Goldman Sachs & Co. LLC | Securities Lending | Open | 986 | 0.00% | physical | |
| Goldman Sachs International | Swap | 09/12/2020 | 4,404,866 | 2.26% | cash | |
| Goldman Sachs & Co. LLC | Swap | 28/12/2020 | 169,791 | 0.09% | cash | |
| Goldman Sachs International | Swap | 24/11/2020 | 140,225 | 0.07% | cash | |
| Goldman, Sachs & Co. Wertpapier GmbH |
Swap | 31/12/2030 | 57,500 | 0.03% | cash | |
| Goldman Sachs International | Call Warrant | 31/12/2030 | 55,746 | 0.03% | cash | |
| Goldman Sachs International | CFD | 12/08/2030 | 45,102 | 0.02% | cash | |
| Goldman Sachs International | CFD | 23/02/2023 | 33,894 | 0.02% | cash | |
| Goldman Sachs International | CFD | 28/10/2030 | 25,904 | 0.01% | cash | |
| Goldman Sachs International | Swap | 23/02/2023 | 15,214 | 0.01% | cash | |
| Goldman, Sachs & Co. Wertpapier GmbH |
Swap | 31/12/2030 | 10,000 | 0.01% | cash | |
| Goldman Sachs International | Call Warrant | 31/12/2030 | 9,499 | 0.00% | cash | |
| Goldman Sachs International | CFD | 20/08/2030 | 9,144 | 0.00% | cash | |
| Goldman Sachs International | Call Option | 12/01/2021 | 5,200 | 0.00% | cash | |
| Goldman, Sachs & Co. Wertpapier GmbH |
Put Warrant | 31/12/2030 | 5,000 | 0.00% | cash | |
| Goldman, Sachs & Co. Wertpapier GmbH |
Swap | 31/12/2030 | 5,000 | 0.00% | cash | |
| Goldman Sachs International | Swap | 31/12/2030 | 5,000 | 0.00% | cash |
| Goldman Sachs International | Call Warrant | 31/12/2030 | 4,750 | 0.00% | cash |
|---|---|---|---|---|---|
| Goldman, Sachs & Co. Wertpapier GmbH |
Swap | 31/12/2030 | 3,600 | 0.00% | cash |
| Goldman, Sachs & Co. Wertpapier GmbH |
Put Warrant | 31/12/2030 | 3,500 | 0.00% | cash |
| Goldman Sachs International | Swap | 31/12/2030 | 3,500 | 0.00% | cash |
| Goldman, Sachs & Co. Wertpapier GmbH |
Swap | 31/12/2030 | 3,300 | 0.00% | cash |
| Goldman, Sachs & Co. Wertpapier GmbH |
Swap | 31/12/2030 | 3,300 | 0.00% | cash |
| Goldman, Sachs & Co. Wertpapier GmbH |
Put Warrant | 31/12/2030 | 3,000 | 0.00% | cash |
| Goldman, Sachs & Co. Wertpapier GmbH |
Swap | 31/12/2030 | 3,000 | 0.00% | cash |
| Goldman, Sachs & Co. Wertpapier GmbH |
Put Warrant | 31/12/2030 | 3,000 | 0.00% | cash |
| Goldman Sachs International | Swap | 31/12/2030 | 3,000 | 0.00% | cash |
| Goldman Sachs International | Swap | 31/12/2030 | 3,000 | 0.00% | cash |
| Goldman, Sachs & Co. Wertpapier GmbH |
Swap | 31/12/2030 | 3,000 | 0.00% | cash |
| Goldman Sachs International | Call Warrant | 31/12/2030 | 3,000 | 0.00% | cash |
| Goldman Sachs International | Call Warrant | 31/12/2030 | 2,994 | 0.00% | cash |
| Goldman, Sachs & Co. Wertpapier GmbH |
Swap | 31/12/2030 | 2,900 | 0.00% | cash |
| Goldman Sachs International | CFD | 23/02/2023 | 2,793 | 0.00% | cash |
| Goldman Sachs International | CFD | 23/02/2023 | 2,709 | 0.00% | cash |
| Goldman Sachs International | Swap | 31/12/2030 | 2,600 | 0.00% | cash |
| Goldman, Sachs & Co. Wertpapier GmbH |
Put Warrant | 31/12/2030 | 2,600 | 0.00% | cash |
| Goldman, Sachs & Co. Wertpapier GmbH |
Swap | 31/12/2030 | 2,600 | 0.00% | cash |
| Goldman Sachs International | Call Warrant | 31/12/2030 | 2,560 | 0.00% | cash |
| Goldman Sachs International | Call Warrant | 31/12/2030 | 2,500 | 0.00% | cash |
| Goldman Sachs International | CFD | 20/08/2030 | 2,269 | 0.00% | cash |
| Goldman Sachs International | Call Warrant | 31/12/2030 | 2,200 | 0.00% | cash |
| Goldman Sachs International | Call Warrant | 31/12/2030 | 2,097 | 0.00% | cash |
| Goldman Sachs International | CFD | 20/08/2030 | 1,757 | 0.00% | cash |
| Goldman, Sachs & Co. Wertpapier GmbH |
Swap | 31/12/2030 | 1,700 | 0.00% | cash |
| Goldman, Sachs & Co. Wertpapier GmbH |
Swap | 31/12/2030 | 1,632 | 0.00% | cash |
| Goldman Sachs International | Call Warrant | 31/12/2030 | 1,629 | 0.00% | cash |
| Goldman, Sachs & Co. Wertpapier GmbH |
Swap | 31/12/2030 | 1,400 | 0.00% | cash |
| Goldman Sachs International | CFD | 24/06/2030 | 1,308 | 0.00% | cash |
| Goldman Sachs International | Swap | 31/12/2030 | 1,200 | 0.00% | cash |
| Goldman, Sachs & Co. Wertpapier GmbH |
Put Warrant | 31/12/2030 | 1,200 | 0.00% | cash |
| Goldman Sachs International | Swap | 19/11/2020 | 1,026 | 0.00% | cash |
| Goldman Sachs International | Swap | 31/12/2030 | 600 | 0.00% | cash |
| Goldman, Sachs & Co. Wertpapier GmbH |
Put Warrant | 31/12/2030 | 600 | 0.00% | cash |
| Goldman Sachs International | Call Warrant | 31/12/2030 | 590 | 0.00% | cash |
| Goldman Sachs International | Call Warrant | 31/12/2030 | 385 | 0.00% | cash |
| Goldman Sachs International | CFD | 28/10/2030 | 365 | 0.00% | cash |
| Goldman Sachs International | Call Warrant | 31/12/2030 | 200 | 0.00% | cash |
| Goldman Sachs International | Swap | 31/12/2030 | 200 | 0.00% | cash |
| Goldman, Sachs & Co. Wertpapier GmbH |
Put Warrant | 31/12/2030 | 200 | 0.00% | cash |
| Goldman Sachs International | CFD | 23/02/2023 | 166 | 0.00% | cash |
| Goldman Sachs International | Swap | 31/12/2030 | 100 | 0.00% | cash |
| Goldman, Sachs & Co. Wertpapier GmbH |
Put Warrant | 31/12/2030 | 100 | 0.00% | cash |
| Goldman Sachs International | CFD | 20/08/2030 | 66 | 0.00% | cash |
| TOTAL | 5,108,128 | 2.63% |
| TOTAL (A & B) | # of voting rights % of voting rights | ||
|---|---|---|---|
| CALCULATE | 12,067,678 | 6.20% |
In accordance with the rules on financial transparency*, Goldman Sachs has notified Ageas on 4 November 2020 that, on 30 October 2020, its interest has exceeded the legal threshold of 5% of the shares issued by Ageas. Its current total shareholding stands at 6.25%.
Reason for the notification Acquisition or disposal of voting securities or voting rights
Notification by A parent undertaking or a controlling person
Persons subject to the notification requirement See annex 1e
Date on which the threshold is crossed 30 October 2020
Threshold that is crossed (in %) 5%
Denominator 194,553,574
Notified details See annex 1f
Chain of controlled undertakings through which the holding is effectively held, if applicable The full chain of command can be found on https://www.ageas.com/investors/shareholders
Additional information
The disclosure obligation arose due to voting rights attached to shares for Goldman Sachs going above 5%.
* article 14, paragraph 1 of the law of 2 May 2007 on disclosure of major holdings us provisions.
ANNEX 1e
| Name | Address (for legal entities) |
|---|---|
| The Goldman Sachs Group, Inc. | Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801, USA |
ANNEX 1f
| A) Voting rights | Previous notification | After the transaction | ||||
|---|---|---|---|---|---|---|
| # of voting rights | # of voting rights | % of voting rights | ||||
| Holders of voting rights | Linked to securities | Not linked to the securities |
Linked to securities |
Not linked to the securities |
||
| The Goldman Sachs Group, Inc. | 0 | 0.00% | ||||
| Goldman Sachs International | 3,256,285 | 1.67% | ||||
| Goldman Sachs Asset Management, L.P. |
256,473 | 0.13% | ||||
| Goldman Sachs Asset Management International |
14,597 | 0.01% | ||||
| Goldman Sachs Asset Management (Hong Kong) Limited |
885 | 0.00% | ||||
| United Capital Financial Advisers, LLC | 354 | 0.00% | ||||
| Subtotal | 3,528,594 | 1.81% | ||||
| TOTAL | 3,528,594 | 0 | 1.81% | 0.00% |
| B) Equivalent financial instruments | After the transaction | |||||
|---|---|---|---|---|---|---|
| Holders of equivalent financial instruments |
Type of financial instrument | Expiration date Exercise period or date |
# of voting rights that may be acquired if the instrument is exercised |
% of voting rights | Settlement | |
| Goldman Sachs International | Securities Lending | Open | 3,547,204 | 1.82% | physical | |
| Goldman Sachs & Co. LLC | Securities Lending | Open | 1,300 | 0.00% | physical | |
| Goldman Sachs International | Swap | 09/12/2020 | 4,404,866 | 2.26% | cash | |
| Goldman Sachs & Co. LLC | Swap | 28/12/2020 | 169,790 | 0.09% | cash | |
| Goldman Sachs International | Swap | 24/11/2020 | 140,211 | 0.07% | cash | |
| Goldman, Sachs & Co. Wertpapier GmbH |
Swap | 31/12/2030 | 57,500 | 0.03% | cash | |
| Goldman Sachs International | Call Warrant | 31/12/2030 | 55,746 | 0.03% | cash | |
| Goldman Sachs International | CFD | 12/08/2030 | 45,103 | 0.02% | cash | |
| Goldman Sachs International | CFD | 23/02/2023 | 33,894 | 0.02% | cash | |
| Goldman Sachs International | CFD | 28/10/2030 | 25,904 | 0.01% | cash | |
| Goldman, Sachs & Co. Wertpapier GmbH |
Swap | 31/12/2030 | 10,000 | 0.01% | cash | |
| Goldman Sachs International | Call Warrant | 31/12/2030 | 9,499 | 0.00% | cash | |
| Goldman Sachs International | CFD | 20/08/2030 | 9,297 | 0.00% | cash | |
| Goldman Sachs International | Swap | 23/02/2023 | 9,145 | 0.00% | cash | |
| Goldman, Sachs & Co. Wertpapier GmbH |
Swap | 31/12/2030 | 5,000 | 0.00% | cash |
| Goldman Sachs International | Swap | 31/12/2030 | 5,000 | 0.00% | cash |
|---|---|---|---|---|---|
| Goldman, Sachs & Co. Wertpapier GmbH |
Put Warrant | 31/12/2030 | 5,000 | 0.00% | cash |
| Goldman Sachs International | Call Option | 12/01/2021 | 4,940 | 0.00% | cash |
| Goldman Sachs International | Call Warrant | 31/12/2030 | 4,750 | 0.00% | cash |
| Goldman, Sachs & Co. Wertpapier GmbH |
Swap | 31/12/2030 | 3,600 | 0.00% | cash |
| Goldman, Sachs & Co. Wertpapier GmbH |
Put Warrant | 31/12/2030 | 3,500 | 0.00% | cash |
| Goldman Sachs International | Swap | 31/12/2030 | 3,500 | 0.00% | cash |
| Goldman, Sachs & Co. Wertpapier GmbH |
Swap | 31/12/2030 | 3,300 | 0.00% | cash |
| Goldman, Sachs & Co. Wertpapier GmbH |
Swap | 31/12/2030 | 3,300 | 0.00% | cash |
| Goldman Sachs International | Swap | 31/12/2030 | 3,000 | 0.00% | cash |
| Goldman, Sachs & Co. Wertpapier GmbH |
Swap | 31/12/2030 | 3,000 | 0.00% | cash |
| Goldman Sachs International | Call Warrant | 31/12/2030 | 3,000 | 0.00% | cash |
| Goldman Sachs International | Swap | 31/12/2030 | 3,000 | 0.00% | cash |
| Goldman, Sachs & Co. Wertpapier GmbH |
Swap | 31/12/2030 | 3,000 | 0.00% | cash |
| Goldman, Sachs & Co. Wertpapier | Put Warrant | 31/12/2030 | 3,000 | 0.00% | cash |
| GmbH Goldman, Sachs & Co. Wertpapier |
Put Warrant | 31/12/2030 | 3,000 | 0.00% | cash |
| GmbH Goldman Sachs International |
Call Warrant | 31/12/2030 | 2,994 | 0.00% | cash |
| Goldman, Sachs & Co. Wertpapier | Swap | 31/12/2030 | 2,900 | 0.00% | cash |
| GmbH Goldman Sachs International |
CFD | 23/02/2023 | 2,709 | 0.00% | cash |
| Goldman, Sachs & Co. Wertpapier | Swap | 31/12/2030 | 2,600 | 0.00% | cash |
| GmbH Goldman Sachs International |
31/12/2030 | 0.00% | cash | ||
| Goldman, Sachs & Co. Wertpapier | Swap | 2,600 | |||
| GmbH | Put Warrant | 31/12/2030 | 2,600 | 0.00% | cash |
| Goldman Sachs International | Call Warrant | 31/12/2030 | 2,560 | 0.00% | cash |
| Goldman Sachs International | Call Warrant | 31/12/2030 | 2,500 | 0.00% | cash |
| Goldman Sachs International | CFD | 20/08/2030 | 2,269 | 0.00% | cash |
| Goldman Sachs International | Call Warrant | 31/12/2030 | 2,200 | 0.00% | cash |
| Goldman Sachs International | Call Warrant | 31/12/2030 | 2,097 | 0.00% | cash |
| Goldman Sachs International | CFD | 23/02/2023 | 2,053 | 0.00% | cash |
| Goldman Sachs International Goldman, Sachs & Co. Wertpapier |
CFD | 20/08/2030 | 1,757 | 0.00% | cash |
| GmbH Goldman, Sachs & Co. Wertpapier |
Swap | 31/12/2030 | 1,700 | 0.00% | cash |
| GmbH | Swap | 31/12/2030 | 1,496 | 0.00% | cash |
| Goldman Sachs International | Call Warrant | 31/12/2030 | 1,493 | 0.00% | cash |
| Goldman, Sachs & Co. Wertpapier GmbH |
Swap | 31/12/2030 | 1,400 | 0.00% | cash |
| Goldman, Sachs & Co. Wertpapier GmbH |
Put Warrant | 31/12/2030 | 1,200 | 0.00% | cash |
| Goldman Sachs International | Swap | 31/12/2030 | 1,200 | 0.00% | cash |
| Goldman Sachs International | Swap | 19/11/2020 | 1,025 | 0.00% | cash |
| Goldman Sachs International | CFD | 24/06/2030 | 808 | 0.00% | cash |
| Goldman Sachs International | Swap | 31/12/2030 | 600 | 0.00% | cash |
| Goldman, Sachs & Co. Wertpapier GmbH |
Put Warrant | 31/12/2030 | 600 | 0.00% | cash |
| Goldman Sachs International | Call Warrant | 31/12/2030 | 590 | 0.00% | cash |
| Goldman Sachs International | Call Warrant | 31/12/2030 | 385 | 0.00% | cash |
| Goldman Sachs International | CFD | 28/10/2030 | 362 | 0.00% | cash |
| Goldman Sachs International | Call Warrant | 31/12/2030 | 200 | 0.00% | cash |
| Goldman Sachs International | Swap | 31/12/2030 | 200 | 0.00% | cash |
| Goldman, Sachs & Co. Wertpapier GmbH |
Put Warrant | 31/12/2030 | 200 | 0.00% | cash |
| Goldman Sachs International | CFD | 23/02/2023 | 166 | 0.00% | cash |
| Goldman Sachs International | CFD | 23/10/2023 | 161 | 0.00% | cash |
| Goldman Sachs International | Swap | 31/12/2030 | 100 | 0.00% | cash |
| Goldman, Sachs & Co. Wertpapier GmbH |
Put Warrant | 31/12/2030 | 100 | 0.00% | cash |
| Goldman Sachs International | CFD | 20/08/2030 | 53 | 0.00% | cash |
| Goldman Sachs International | Call Option | 02/11/2020 | 38 | 0.00% | cash |
| TOTAL | 8,628,265 | 4.43% |
| TOTAL (A & B) | # of voting rights % of voting rights | ||
|---|---|---|---|
| CALCULATE | 12,156,859 | 6.25% |
This press release and the notifications received by Ageas are available on the website.
Ageas is a listed international insurance Group with a heritage spanning almost 200 years. It offers Retail and Business customers Life and Non-Life insurance products designed to suit their specific needs, today and tomorrow. As one of Europe's larger insurance companies, Ageas concentrates its activities in Europe and Asia, which together make up the major part of the global insurance market. It operates successful insurance businesses in Belgium, the UK, France, Portugal, Turkey, China, Malaysia, India, Thailand, Vietnam, Laos, Cambodia, Singapore, and the Philippines through a combination of wholly owned subsidiaries and long term partnerships with strong financial institutions and key distributors. Ageas ranks among the market leaders in the countries in which it operates. It represents a staff force of over 45,000 people and reported annual inflows of over EUR 36 billion in 2019 (all figures at 100%).