What's cooking? (formerly: Ter Beke) — Board/Management Information 2021

Jun 18, 2021

PRESS RELEASE Regulated information – Insider information

Lievegem, 18 June 2021 – 6:00 p.m.

Dirk Goeminne takes over temporarily the executive management of Ter Beke Ter Beke sells its Luxembourg reinsurance company

Dirk Goeminne, Chairman of the Board of Directors of Ter Beke, will temporarily take over the executive management of the group as Executive Chairman, after the departure of Francis Kint on June 30, 2021, and pending the arrival of a new CEO.

Dirk Goeminne was already CEO of the group between 2013 and 2018 and has since been Chairman of the Board of Directors. He will now temporarily take up the role of Executive Chairman.

In the meantime, the board of directors is intensively continuing the search for a new CEO for the group.

Ter Beke announced on 1 March 2021 that it had started negotiations with a view to the sale of its reinsurance company in Luxembourg.

This sale has now been approved by the competent Luxembourg authorities and was completed today.

As previously announced, this sale will have a one-off negative impact on the consolidated cash flows and the net result of the group. This impact will amount to approximately EUR 4.3 million. With this sale, Ter Beke further reduces its recurring fixed cost base.

(end of press release)

Contacts

For questions about this press release or for further information, please contact:

Yves Regniers° CFO Tel. +32 9 370 13 17 yves.regniers@terbeke.com

° Permanent representative of BV Esroh

You can also consult this press release and send your questions to us via the Investor Relations module of our website (www.terbeke.com).

For more information about Ter Beke, visit www.terbeke.com.

Financial calendar

Results optional dividend: 1 July 2021 after market closing Results first semester of 2021: 27 August 2021 before market opening