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News Breaks | | | | February 15, 2013 | | 05:07 EDT |  | AEG | AEGON to cancel preferred shares
Aegon and Vereniging Aegon have reached an agreement to cancel all of Aegon's preferred shares, of which the Association is the sole owner. The agreement will result in a simplified capital structure for Aegon while enabling the company to maintain a high-quality capital base under new European solvency requirements, as well as allowing the Association to substantially reduce its debt. Under the agreement, all of Aegon's preferred shares will be exchanged for cash and common shares. The value of all preferred shares, which have a book value of EUR 2.1B, has been determined at EUR 1.1B. The Association will receive EUR 400M from Aegon in cash and the equivalent of EUR 655M in common shares in addition to a total of EUR 83M of dividends on the preferred shares. As a result of the transaction, the number of common shares outstanding will increase by approximately 7%. The dilutive effect on earnings per share, however, is limited to approximately 3% as there will be no preferred dividend payments following the transaction. The actual increase in the number of common shares will depend on the volume-weighted average price of Aegon common shares on Euronext Amsterdam from February 15 up to, and including, February 28. | |
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News For AEG From The Last 14 Days Check below for free stories on AEG the last two weeks. |
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| May 24, 2013 | | 05:42 EDT | | AEG | AEGON names Aegon Americas COO Brenda Clancy to Global Chief Technology Officer
 Subscribe for More Information | | | May 16, 2013 | | 12:32 EDT |  | AEG | EU bank stress test delayed until 2014 by regulator
The EBA agreed on recommendations to supervisors to conduct asset quality reviews on major EU banks. While banks’ capital positions were significantly strengthened under the EBA’s recapitalisation exercise, the objective of the asset quality exercises will be to review banks’ classifications and valuations of their assets so to help dispel concerns over the deterioration of asset quality due to macroeconomic conditions in Europe. Since appropriately reviewed balance sheets are a key input to an effective stress test, the EBA has also adjusted the timeline of the next EU-wide stress test so to conduct the exercise in 2014 once the asset quality reviews are completed. However, to ensure transparency and comparability over the years, the EBA will provide, in 2H, appropriate disclosure on the actual exposures of the EU banking sector. Reference Link | | | May 13, 2013 | | 06:49 EDT |  | AEG | ECB member says negative deposit rates would help economy, Reuters says
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