General meeting

FMO's Shareholders assemble at the Annual General Meeting of Shareholders (AGM) at least every year in May.

The AGM is convened once every year. However, both the Management and Supervisory Boards can request extraordinary meetings. Shareholders representing at least 5% of FMO's issued capital can also convene a meeting.

FMO's shareholders are comprised of a 51% holding by the Dutch State, 42% by several large Dutch banks, and 7% is held by employers' associations, trade unions and 100 Dutch companies and individual investors.

Role of the AGM

The AGM has core powers including, but not limited to, decisions on amendments to the Articles of Association, legal mergers and the adoption of the annual accounts.

From a governance perspective, it has power of appointment of members of the Supervisory Board. The AGM may not dismiss or suspend individual members of the Supervisory Board. It can, however, withdraw its confidence in the entire Supervisory Board, leading to immediate dismissal of all its members. The AGM also approves the remuneration policy for the Management Board and compensation for the Supervisory Board.