Q & A
DISCLAIMER: NO RIGHTS CAN BE DERIVED FROM THIS Q&A. THE TEXT OF THE ORDER AND THE AGREEMENT (AS DEFINED IN QUESTION 1 OF THIS Q&A) SHALL PREVAIL OVER THE CONTENT OF THE Q&A.
If you have a question that is not answered in the below Q&A, you may ask them via info@vediorschikking.nl .
- What is the current status of the Vedior settlement?
By Order dated 15 July 2009 (referred to below as the 'Order'), the Court of Appeal of Amsterdam, the Netherlands, declared binding the collective settlement agreement between Randstad Holding N.V. (referred to below as 'Randstad'), the Dutch Association of Shareholders (Vereniging van Effectenbezitters, referred to below as the 'Shareholders Association') and the Stichting Uitvoer Vedior Schikking foundation (referred to below as the 'SUVS') dated 26 September 2008, as amended by an additional agreement dated 2 February 2009 (referred to below as the 'Agreement'). The Order became irrevocable on 15 July 2009. Entitled Parties may now submit a request for compensation under the settlement agreement or issue a notification that he or she does not want to be bound by the terms of the settlement. Please note: deadlines apply. Information on these deadlines can be found elsewhere on this website.
- When was the Vedior settlement declared binding?
The Amsterdam Court of Appeal declared the Vedior settlement binding on 15 July 2009.
- Where can I obtain a copy of the Order?
The Order can be downloaded here .
- Where do I obtain a copy of the Settlement Agreement as amended?
A copy of the Settlement Agreement, as amended, can be downloaded here .
The addendum may be downloaded here.
- Can I also obtain a hard copy of the Order and the Settlement Agreement?
A (hard) copy of the documents mentioned above may be obtained also by making a request to that effect to Randstad, PO Box 12600, 1100 AP Amsterdam, the Netherlands, attn. Mr J. Miedema, or via
info@vediorschikking.nl .
- Who qualifies for compensation?
In principle, each person or entity who sold Vedior shares on Friday morning 30 November 2007 between 9:00 hours and 11:34 hours may apply for compensation. Whether compensation will indeed be paid (among other things) depends on the price at which the shares were sold.
- What amount is available for compensation?
The amount of the settlement is EUR 4.25 million.
- What is the settlement amount that I am entitled to?
The agreement provides that each Entitled Party will receive an amount for each share that he or she sold on 30 November 2007 between 9:00 AM and 11:34 AM, equal to approximately 80% of the difference between the price at which the entitled parties sold that share on 30 November 2007 between 9:00 AM and 11:34 AM and the opening price of the share when trading resumed at 1:20 PM, in the amount of EUR 15.80. However, the total amount owed to all the Entitled Parties jointly may not exceed the amount of EUR 4,250,000.
- How was the settlement amount determined?
The settlement amount available is the result of negotiations between Randstad (as the legal successor to Vedior), the VEB and SUVS.
- Why would I accept the amount offered?
The parties to the collective settlement agreement agreed that Randstad would compensate approximately 80% of the alleged loss of profit, without admitting any liability on its part. It is unlikely that you will receive an even higher compensation if you choose to litigate against Randstad, particularly in view of the costs involved in such proceedings. It is also possible that you loose the litigation, either in whole or in part and receive a lower amount than the amount that your may be entitled to under the collective settlement agreement.
- I am an Entitled Party and I would like to submit a claim. What should I do?
Each entitled party who claims payment of a remuneration under the collective settlement agreement must send a written request to Randstad by fully completing this form . The written request must:
- be addressed to Randstad, Attn Mr J. Miedema, PO Box 12600, 1100 AP Amsterdam, the Netherlands;
- contain a list of the numbers of shares that the Entitled Party sold and the time at which each share was sold;
- be accompanied by a copy of bank statements or other documentary evidence demonstrating the numbers of Shares that the Entitled Party sold and the time at which each of those Shares was sold;
- be signed by the Entitled Party;
- indicate the account number to which the payment must be transferred and all the information necessary to make payment (IBAN and comparable codes used for international payment transactions); and
- be received by Randstad no later than 1 March 2010 (referred to below as the 'Closing Date').
Entitled parties who have given a notice in a timely manner within the meaning of article 7:908 (2) and (3) of the Dutch Civil Code (Burgerlijk Wetboek) will be deemed to have revoked their earlier notifications if they give the written notification claiming a remuneration in the manner indicated above.
- Until which date can I submit my claim?
On the basis of article 7.3 (F) of the settlement agreement, the claim form mentioned under 11 above must be received by Randstad prior to three months after the expiration of the opt-out period. As a consequence, your written request for payment must be received ultimately on 1 March 2010.
- How long will it take before I obtain my compensation?
The settlement agreement provides that entitled parties will receive their compensation within three weeks following 1 March 2010.
- What should I do if I disagree with the compensation that is offered?
Each Entitled Party who does not want to be bound by the settlement agreement may give written notice to that effect. An Entitled Party who makes such a statement will not be bound by the agreement but he or she will also not be entitled to derive any rights from it. The statement, which must contain the name and address details, must be sent to the following civillaw notary: W.H. Bossenbroek, NautaDutilh, PO Box 7113, 1007 JC Amsterdam, the Netherlands. The Court of Appeal has set the term within which that statement must be sent at three months after 1 September 2009, and that term will therefore expire on 1 December 2009.
- Until which date can I opt-out?
The term within which Entitled Parties may issue a written statement that they do not whish to be bound to the settlement (the opt-out period) has been set by the Amsterdam court at three months, beginning on 1 September 2009 and ending at 30 November 2009. As a consequence opt-out statements must be received before 1 December 2009.
- What happens if I not do anything?
If you choose not to opt-out, you will be bound to the settlement agreement that has been declared binding by the Amsterdam Court of Appeal. You will then be entitled to compensation, provided you timely submit the filled out claim form (including exhibits).
- What is the expiry period?
Pursuant to the settlement agreement, the right to compensation expires within one year following the date on which an Entitled Party has become aware of his right to claim.
- Should I be a member of the VEB?
Membership of the VEB is not a requirement for participation to this settlement.
- Who are the members of the board of Stichting Uitvoering Vedior Schikking?
The board of Stichting Uitvoering Vedior Schikking consists of J.M. van de Luijtgaarden (on behalf of Randstad), A.A.E. Rietveld (on behalf of VEB) and professor M. Kroeze (independent).
- How will I be informed of any new developments?
We recommend to visit this website regularly.
- Where can I ask questions?
If you have a question that is not answered in the above Q&A, you may ask them via info@vediorschikking.nl .