PGGM Vermogensbeheer B.V. (hereinafter: “PGGM Investments”) endorses the basic principles as laid down in the Dutch Corporate Governance Code (hereinafter: “Code”) and the Eumedion Best Practices voor betrokken aandeelhouderschap (hereinafter: “EBP”). PGGM Investments, on behalf of itself and/or its clients, undertakes best effort to voluntarily comply with the principle and best practices of section IV.4 of the Code (“Responsibility of shareholders”) and/or any other provision in the Code that specifically addresses institutional investors and/or shareholders and/or the EBP.
Notwithstanding preceding, PGGM Investments explicitly reserves the right to not-comply with the Code and/or the EBP, specifically with regard to – but not limited to - the provision of section IV.4.4 of the Code. PGGM Investments will assess on a case- by- case basis whether or not it will respect the response time as stipulated in the Code and/or by the Company involved. This approach applies in particular to the right of putting an item on the agenda, and/or request for organizing an (extraordinary) general meeting of shareholders, as referred to in provision 2:110 Dutch Civil Code. In any case, PGGM Investments shall duly explain its decision to not-comply.
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