The SAAT's meeting agenda included SAAT's 2023 report and the consultation of Depository Receipt Holders on the voting items on the agenda of Triodos Bank N.V.'s annual general meeting. No items were up for vote on the agenda. SAAT intends to vote in favour of the voting items on the agenda of the annual general meeting of Triodos Bank N.V. and has consulted Depository Receipt Holders accordingly. 

Also, SAAT's board looked back on the Meeting of Depository Receipt Holders held on 28 February 2024. In this meeting, SAAT's proposals to modernise its governance were rejected by the Depository Receipt Holders that were present or represented. This led SAAT to investigate alternatives to simplify SAAT's governance. In particular two options were explored: termination of the administration of the Depositary Receipts and the issuing preference shares to a protective foundation. 

After careful consideration, SAAT believes that the benefits of termination of the administration and the establishment of a new protective measure by means of issuing preference shares to a protective foundation do not outweigh the disadvantages of such a transition. A more detailed explanation on this can be found via this link.