Eurocastle Investment GB00B94QM994

Eurocastle 2019

1. Izette 18 november 2019 08:33

   auteur info

   • Izette

     Lid sinds: 30 nov 2011

     Laatste bezoek: 07 feb 2025

   • Aanbevelingen

     Ontvangen: 47

     Gegeven: 7

   •    Aantal posts: 274

   Eurocastle announces Realisation Plan to accelerate return of value from its assets
   Publication of Circular and Notice of General Meeting to be held on 2 December 2019
   Management Call to be held on 19 November 2019
   Guernsey, 18 November 2019 – Eurocastle Investment Limited (“Eurocastle” or the “Company”) today announces that
   the Board of Directors (the “Board”) has resolved to realise the majority of the Company’s assets, being its shares in
   doValue S.p.A. (“doValue Shares”) and interests in Italian loan investments (the “NPL Portfolio”) in order to accelerate
   the return of value to the Company’s shareholders by way of a tender offer (the “Realisation Plan”). Following completion
   of the Tender Offer and the NPL Sale as described below, the Company is expected to have realised €281 million in
   aggregate, equal to more than 90% of the Company’s Q3 2019 net asset value (“NAV”)i
   .
   As previously communicated, Eurocastle and the Board have been focused on enhancing shareholder value and maximizing
   distributions to shareholders. Through a number of strategies, including the adoption of a distribution policy and a series of
   accretive tender offers, the Company has distributed €544 million to shareholders over the past 6 years, with a remaining
   Q3 2019 NAV of approximately €308 millioni
   . In light of the discount at which the Company continues to trade relative to
   its NAV, the Board has determined that this is an appropriate time to set new strategic priorities for the Company to realise
   the value of its assets for shareholders.
   Eurocastle has today published a circular to shareholders (the “Circular”) containing details of the Realisation Plan and the
   actions required to be taken by shareholders to implement the Proposed NPL Sale and the Tender Offer. The Circular
   contains notice of the general meeting of the Company’s shareholders (the “General Meeting”) to be held on 2 December
   2019 to seek shareholder approval on two resolutions. The first resolution (the “NPL Sale Resolution”) will seek
   shareholder approval, as an ordinary resolution, for a transaction pursuant to which the Company would dispose of the NPL
   Portfolio for a purchase price of €140.2 million to funds managed by an affiliate of FIG LLC, the Company’s Investment
   Manager (the “NPL Sale”). The second resolution will seek shareholder approval, as a special resolution, for a tender offer
   whereby the Company will offer to exchange Eurocastle shares for a combination of doValue Shares and the distributable
   cash proceeds from the NPL Sale (the “Tender Offer”). The General Meeting will be held at Regency Court, Glategny
   Esplanade, St Peter Port, Guernsey GY1 1WW on 2 December 2019 at 3.00 p.m. (GMT).
   Under the terms of the Tender Offer, the maximum number of Ordinary Shares to be tendered is 34.6 million (the
   “Maximum Number of Shares”). Assuming the Maximum Number of Shares are tendered, tendering shareholders will
   receive both approximately 0.4353 doValue Shares and €3.16 in cash in exchange for each Eurocastle share validly
   tendered. This initial ratio will be adjusted in the manner set out in the Circular if fewer than the Maximum Number of
   Shares are validly tendered. The Tender Offer will return 15.04 million doValue Shares and up to €109.2 million in cash to
   shareholders.
   2
   The consideration per Ordinary Share, which is equivalent to a value of €8.14, has been determined by the Board based on
   its calculation of the Company’s currently distributable NAV, which reflects: (i) the volume weighted average price of
   doValue S.p.A. for the 5 days ended 15 November 2019ii (the “VWAP”), being €11.44 per doValue Share; (ii) the
   estimated net proceeds from the Proposed NPL Sale of €140.2 million; (iii) the carrying value of the remaining assets of the
   Company as at 30 September 2019; and (iv) additional reserves determined by the Board of Directors in order to take into
   account future costs and potential liabilities.
2. Izette 18 november 2019 08:33

   auteur info

   • Izette

     Lid sinds: 30 nov 2011

     Laatste bezoek: 07 feb 2025

   • Aanbevelingen

     Ontvangen: 47

     Gegeven: 7

   •    Aantal posts: 274

   The Board does not currently intend to make any material new investments with the proceeds realised from the Company’s
   existing holdings. With respect to the remaining assets, which predominantly comprise Eurocastle’s investments in Italian
   real estate funds, the Company plans to continue to hold and realise these assets in accordance with existing business plans.
   It will support these investments to the extent required to optimise returns and distribute cash to shareholders when
   available. The Company’s distribution policy, including the regular quarterly dividend, will not apply with effect from Q3
   2019. The Board currently anticipates that the majority of the Company’s existing assets will be realised by the end of
   2023.
   FIG LLC, the Company’s Investment Manager, has also agreed to amend the calculation of its incentive fee to treat the
   Company’s other remaining assets, which predominantly comprise investments in Italian real estate funds, as fully realised
   at an agreed value in 2019 and to better reflect the price per Ordinary Share represented in the initial Exchange Ratio.
   These amendments will reduce the fee payable by the Company to the Investment Manager in the fourth quarter of 2019 by
   up to €2.4 million to €19.7 million and no further fees will be due in relation to the Company’s remaining investments. In
   return, the Investment Manager will be entitled to earn back a portion of this discount if amounts are released from certain
   reserves put in place by the Board to fund future costs and potential liabilities.
   EJF Debt Opportunities Master Fund, L.P., Asset Value Investors, and EMS EC Investments LP, for themselves and their
   affiliates, whose aggregate voting rights in the Company represented approximately 62% of the total voting rights in the
   Company as at 15 November 2019 (the “Major Shareholders”), have provided the Company with letters containing
   confirmations of their firm intentions to vote in favour of the resolutions at the General Meeting and tender all of their
   Ordinary Shares as part of the Tender Offer.
   The Investment Manager, on behalf of itself, its principals and managed funds, whose aggregate voting rights in the
   Company represented approximately 14% of the total voting rights in the Company as at 15 November 2019, has provided
   the Company with a letter containing confirmations of (i) each of the Investment Manager, its principals and managed
   funds’ firm intention to vote in favour of the Tender Offer at the General Meeting and tender all of their Ordinary Shares as
   part of the Tender Offer; and (ii) the Investment Manager’s commitment not to vote on the NPL Sale Resolution, and to
   take all reasonable steps to ensure that members of its group and employees will not vote on the NPL Sale Resolution to be
   proposed at the General Meeting.
   In addition, the Major Shareholders and the Investment Manager, on behalf of itself, its principals and managed funds, have
   agreed to restrictions on their ability to dispose of any doValue Shares acquired through the Tender Offer prior to January
   31, 2020 and such restrictions will then expire in stages up to March 31, 2020. Please refer to the Circular for more details
   of these restrictions. Certain other affiliates and employees of the Investment Manager may participate in the Tender Offer
   on the same terms as all other shareholders.
   Shareholders should refer to the sections of the Circular entitled “Action to be Taken in Relation to the Proposed NPL
   Sale” and “Action to be Taken in Relation to the Tender Offer” for action to be taken in respect of the Proposed NPL Sale
   and the Tender Offer.
   NPL Sale Details
   The NPL Sale is conditional on approval by Shareholders at the General Meeting
   Since the establishment of the change in strategy in 2013, Eurocastle has invested €289 million in 24 Italian loan pools.
   These investments have returned €237 million to date, helping to support the Company’s regular quarterly dividend, and
   have a remaining value as at 30 September 2019 of €149 million. The Board has been evaluating options of how to
   accelerate the return of this remaining value to shareholders. After carefully considering the possibility of running a
   marketed process with third parties and the associated timing, cost and execution risk in light of the complexity and size of
   3
   the Company’s portfolio, the Board approached the Investment Manager to gauge the interest of any of its affiliated funds,
   certain of which already held interests in the NPL Portfolio, to acquire these interests in a single accelerated transaction.
   The Company has now reached agreement to sell the NPL Portfolio for a purchase price (after customary adjustments for
   collections) of €140.2 million to funds managed by an affiliate of its Investment Manager (the “NPL Purchaser”). The
   purchase price represents a 5% discount to the Q3 2019 NAV of the NPL Portfolio excluding certain residual interests
   which the Company is required to retain due to legal obligations and which the NPL Purchaser has committed to acquire at
   the same 5% discount when such obligations no longer apply. In addition, the NPL Purchaser will assume an obligation to
   fund the €18.1 million deferred purchase price due to be paid by the Company in July 2020 in relation to the FINO NPL
   investment. Therefore, the Company anticipates receiving cash proceeds of approximately €122.1 million upon completion
   of the Proposed NPL Sale in December 2019.
3. Izette 18 november 2019 08:34

   auteur info

   • Izette

     Lid sinds: 30 nov 2011

     Laatste bezoek: 07 feb 2025

   • Aanbevelingen

     Ontvangen: 47

     Gegeven: 7

   •    Aantal posts: 274

   It is intended that the distributable cash proceeds realised by the Company from the Proposed NPL Sale (representing the
   cash proceeds to be received by the Company in December 2019 less transaction costs and certain additional amounts to be
   retained by the Company to cover future costs and potential liabilities) of €109.2 million will be returned to shareholders
   via the cash component of the Tender Offer consideration.
   As the NPL Sale is a related party transaction between the Company and the NPL Purchaser, a committee comprising the
   four members of the Board who are not affiliated with the Investment Manager (the “Board Committee”) obtained an
   independent valuation of the NPL Portfolio from Alantra Corporate Portfolio Advisors, S.L. and are of the unanimous view
   that the terms of the NPL Sale are fair and reasonable so far as Eurocastle’s shareholders are concerned and that it has been
   entered into on arms’ length terms.
   In particular, the Board Committee believes that the proposed sale to the NPL Purchaser represents an attractive
   opportunity for shareholders as it provides transaction certainty, speed of execution and a clean exit with no requirement to
   reserve for tail liability risk at a limited discount to the investments’ carrying value, an outcome which the Board
   Committee believes would not be achieved through a marketed process. Execution of the Proposed NPL Sale will allow the
   Company to return the value of the NPL Portfolio to Shareholders in a timely fashion, primarily via the cash component of
   the Tender Offer consideration.
   Tender Offer Details
   The Tender Offer is conditional on both the Tender Offer Resolution and the NPL Sale Resolution being approved by
   Shareholders at the General Meeting
   The Board is proposing to deliver both: (i) up to 15.04 million doValue Shares currently held by the Company; and (ii) up
   to €109.2 million in cash, through the acquisition of up to 34.6 million Eurocastle shares from tendering shareholders via an
   off-market share buy-back process in exchange for the delivery of cash and doValue Shares. Assuming the Maximum
   Number of Shares are tendered, tendering shareholders will receive both approximately 0.4353 doValue Shares and €3.16
   in cash in exchange for each Eurocastle share validly tendered, representing a value per Ordinary Share of €8.14.
   The consideration per Ordinary Share has been determined by the Board based on its calculation of the Company’s
   currently distributable NAV, which reflects: (i) the VWAP of doValue; (ii) the estimated net proceeds from the Proposed
   NPL Sale; (iii) the NAV of the remaining assets of the Company as at 30 September 2019; and (iv) additional reserves
   determined by the Board of Directors in order to take into account future costs and potential liabilities.
   Each tendering shareholder will be entitled to have 94.91 per cent. of the Ordinary Shares registered in their respective
   names on the Tender Offer record date, on 17 December 2019, accepted into the Tender Offer, rounded down to the nearest
   whole number of Ordinary Shares. This is what is known as each tendering shareholder’s “Basic Entitlement”. All
   Ordinary Shares validly tendered by tendering shareholders up to their respective Basic Entitlement will be accepted in full
   in exchange for doValue Shares and cash. Shareholders may also be able to participate in the Tender Offer in excess of
   their Basic Entitlement to the extent that other tendering shareholders tender less than their respective Basic Entitlements.
   For further details see the Tender Offer Circular.
   4
   The Circular, which includes notice of the General Meeting, has been posted on the Investor Relations section of the
   Company’s website under the tab “Periodic Reports and Shareholder Communications – Tender Offer” and has been
   mailed to eligible shareholders on the register as at close of business on 15 November 2019.
   EXPECTED TIMETABLE FOR PROPOSED NPL SALE AND TENDER OFFER
   2019
   Date of publication of Circular and Tender Offer opens 18 November
   Latest time and date for receipt of Forms of Proxy or CREST
   Proxy Instructions (as applicable) to be provided in respect of
   the General Meeting…………….………………………………. 3.00 p.m. (GMT) on 28 November
   General Meeting to approve NPL Sale Resolution and
   Tender Offer Resolution………......…………………...………
   3.00 p.m. (GMT) on 2 December
   Latest time and date for receipt of Tender Forms in respect
   of the Tender Offer………………………………………..…... 6.00 p.m. (CET) on 17 December
   Tender Offer Record Date and Tender Offer Closing Date…..… 6.00 p.m. (CET) on 17 December
   Commencement of: (i) delivery of doValue Shares via Monte
   Titoli to Admitted Institutions, CREST Participants and holders
   of successfully tendered certificated Ordinary Shares; (ii)
   settlement of Cash Component of Tender Offer consideration;
   (iii) settlement of fractional entitlements and (iv) despatch of
   balance share certificates for unsuccessful tenders of Ordinary
   Shares (certificated holders only) ................................................
   20 December
   The above times and/or dates may be subject to change and, in the event of such change, the revised times and/or dates
   will be notified to Shareholders by a press release on the Company’s website, an announcement through a Regulatory
   Information Service and via newswire in the United States.
   In addition, management will host a conference call at 2:00 P.M. London time (9:00 A.M. New York time) on Tuesday, 19
   November 2019. All interested parties are welcome to participate on the live call. You can access the conference call by
   dialing first +1-844-492-7988 (from within the U.S.) or +1-478-219-0293 (from outside of the U.S.) ten minutes prior to
   the scheduled start of the call; please reference “Eurocastle Management Call or conference ID number 2437329”
   A webcast of the conference call will be available to the public on a listen-only basis at www.eurocastleinv.com. Please
   allow extra time prior to the call to visit the site and download the necessary software required to listen to the internet
   broadcast. A replay of the webcast will be available for three months following the call.
   For those who are not available to listen to the live call, a replay will be available until 11:59 P.M. New York time on
   Monday, 2 December 2019 by dialing +1-855-859-2056 (from within the U.S.) or +1-404-537-3406 (from outside of the
   U.S.); please reference access code “2437329”
   
4. Kousie 18 november 2019 10:02

   auteur info

   • Kousie

     Lid sinds: 24 apr 2001

     Laatste bezoek: 07 feb 2025

   • Aanbevelingen

     Ontvangen: 266

     Gegeven: 4

   •    Aantal posts: 2.240

   Kan je het even samenvatten, Izette?
5. DeZwarteRidder 18 november 2019 10:09

   auteur info

   • DeZwarteRidder

     Lid sinds: 29 jun 2012

     Laatste bezoek: 07 feb 2025

   • Aanbevelingen

     Ontvangen: 24058

     Gegeven: 10518

   •    Aantal posts: 101.949

   quote:

   Cosy schreef op 18 november 2019 10:02:

   Kan je het even samenvatten, Izette?
   

   Ze gaan spullen verkopen en aandelen terugkopen in ruil voor cash en aandelen Dovalue.
6. A3aan 18 november 2019 11:27

   auteur info

   • A3aan

     Lid sinds: 04 jan 2014

     Laatste bezoek: 07 feb 2025

   • Aanbevelingen

     Ontvangen: 5277

     Gegeven: 529

   •    Aantal posts: 14.352

   Het blijft een verrassing als je de aandelen Eurocastle bezit. Een heel verhaal en zal wel weer zien hoe het één en ander verloopt. Maar begrijp nu wel dat mijn Eurocastle aandelen verdwijnen voor geld een Italiaanse rommel (???) en of ik in Italiaanse spul wil zitten moet ik nog eens goed over nadenken. Als er nog een paar duppies bijkomen de komende week ruim ik ze denk ik maar op.
7. DeZwarteRidder 18 november 2019 11:38

   auteur info

   • DeZwarteRidder

     Lid sinds: 29 jun 2012

     Laatste bezoek: 07 feb 2025

   • Aanbevelingen

     Ontvangen: 24058

     Gegeven: 10518

   •    Aantal posts: 101.949

   quote:

   A3aan schreef op 18 november 2019 11:27:

   Het blijft een verrassing als je de aandelen Eurocastle bezit. Een heel verhaal en zal wel weer zien hoe het één en ander verloopt. Maar begrijp nu wel dat mijn Eurocastle aandelen verdwijnen voor geld een Italiaanse rommel (???) en of ik in Italiaanse spul wil zitten moet ik nog eens goed over nadenken. Als er nog een paar duppies bijkomen de komende week ruim ik ze denk ik maar op.
   

   DoValue is een Italiaans incassoburo, met beursnotering.
8. DeZwarteRidder 18 november 2019 11:43

   auteur info

   • DeZwarteRidder

     Lid sinds: 29 jun 2012

     Laatste bezoek: 07 feb 2025

   • Aanbevelingen

     Ontvangen: 24058

     Gegeven: 10518

   •    Aantal posts: 101.949

   doValue to manage 4.3 billion euros of Alpha Bank's bad loans in Cyprus By Reuters - Oct 14, 2019
   
   MILAN (Reuters) - Italy's biggest loan recovery specialist doValue (MI:DOVA) said on Monday it had agreed with Greece's Alpha Bank (AT:ACBr) to manage a gross 4.3 billion euro's......
   
9. GrindNshiP 18 november 2019 12:05

   auteur info

   • GrindNshiP

     Lid sinds: 26 feb 2015

     Laatste bezoek: 24 jan 2025

   • Aanbevelingen

     Ontvangen: 32

     Gegeven: 6

   •    Aantal posts: 509

   quote:

   A3aan schreef op 18 november 2019 11:27:

   Het blijft een verrassing als je de aandelen Eurocastle bezit. Een heel verhaal en zal wel weer zien hoe het één en ander verloopt. Maar begrijp nu wel dat mijn Eurocastle aandelen verdwijnen voor geld een Italiaanse rommel (???) en of ik in Italiaanse spul wil zitten moet ik nog eens goed over nadenken. Als er nog een paar duppies bijkomen de komende week ruim ik ze denk ik maar op.
   

   Daar zat je al lang in via Eurocastle en hun aandelenpositie in DoValue (voorheen DoBank). DoValue heeft een goed kwartaal gedraaid en maakt gewoon winst en maken goede efficiency slagen waarbij ze tevens aangeven dat het innen van achterstanden zeer voorspoedig gaat. Voordeel van deze tender is dat je nu eindelijk meer je NAV eruit gaat halen en je hele positie in aanmerking komt ipv weer een aandeleninkoop met cash. Je kunt daarna altijd je aandelen DoValue verkopen. Op huidige koers kom je dan uit op c.a. 6% premie.
10. torro 18 november 2019 12:40

    auteur info

    • torro

      Lid sinds: 04 sep 2009

      Laatste bezoek: 21 jan 2025

    • Aanbevelingen

      Ontvangen: 1054

      Gegeven: 1082

    •    Aantal posts: 6.027

    ec +8% ??
11. torro 18 november 2019 12:47

    auteur info

    • torro

      Lid sinds: 04 sep 2009

      Laatste bezoek: 21 jan 2025

    • Aanbevelingen

      Ontvangen: 1054

      Gegeven: 1082

    •    Aantal posts: 6.027

    De Zwarte ridder zijn kasteel aan het verdedigen
12. shaai 18 november 2019 14:48

    auteur info

    • shaai

      Lid sinds: 29 jul 2005

      Laatste bezoek: 07 feb 2025

    • Aanbevelingen

      Ontvangen: 459

      Gegeven: 1181

    •    Aantal posts: 4.568

    quote:

    A3aan schreef op 18 november 2019 11:27:

    Het blijft een verrassing als je de aandelen Eurocastle bezit. Een heel verhaal en zal wel weer zien hoe het één en ander verloopt. Maar begrijp nu wel dat mijn Eurocastle aandelen verdwijnen voor geld een Italiaanse rommel (???) en of ik in Italiaanse spul wil zitten moet ik nog eens goed over nadenken. Als er nog een paar duppies bijkomen de komende week ruim ik ze denk ik maar op.
    

    je zit met EuroCastle al heel lang in DoBank?
13. Kousie 18 november 2019 15:06

    auteur info

    • Kousie

      Lid sinds: 24 apr 2001

      Laatste bezoek: 07 feb 2025

    • Aanbevelingen

      Ontvangen: 266

      Gegeven: 4

    •    Aantal posts: 2.240

    Ik heb er maar 300, dus zo veel risico loop ik niet en zit bovendien al op een goede winst.
    Maar toch ben ik altijd wat achterdochtig over dit bedrijf. Buikgevoel.
    Ik denk aan verkoop.
14. torro 18 november 2019 15:14

    auteur info

    • torro

      Lid sinds: 04 sep 2009

      Laatste bezoek: 21 jan 2025

    • Aanbevelingen

      Ontvangen: 1054

      Gegeven: 1082

    •    Aantal posts: 6.027

    quote:

    shaai schreef op 18 november 2019 14:48:

    [...]
    
    je zit met EuroCastle al heel lang in DoBank?
    

    nog steeds een leuk dividend Adriaan
15. DeZwarteRidder 18 november 2019 15:18

    auteur info

    • DeZwarteRidder

      Lid sinds: 29 jun 2012

      Laatste bezoek: 07 feb 2025

    • Aanbevelingen

      Ontvangen: 24058

      Gegeven: 10518

    •    Aantal posts: 101.949

    Het lijkt erop dat ze Eurocastle van de beurs willen halen; waarschijnlijk is dat zeer winstgevend voor de beheerders, want anders zouden ze dat niet doen.
    
    Het lijkt er ook op dat het dividend geschrapt wordt of verlaagd.
16. GrindNshiP 18 november 2019 15:40

    auteur info

    • GrindNshiP

      Lid sinds: 26 feb 2015

      Laatste bezoek: 24 jan 2025

    • Aanbevelingen

      Ontvangen: 32

      Gegeven: 6

    •    Aantal posts: 509

    quote:

    DeZwarteRidder schreef op 18 november 2019 15:18:

    Het lijkt erop dat ze Eurocastle van de beurs willen halen; waarschijnlijk is dat zeer winstgevend voor de beheerders, want anders zouden ze dat niet doen.
    
    Het lijkt er ook op dat het dividend geschrapt wordt of verlaagd.
    

    Vooralsnog geschrapt: "The Company’s Distribution Policy, including the regular quarterly dividend, will not apply with effect from Q3 2019."
    
    Logischerwijs vanuit de gedachte dat de tender het dividend vervangt (beetje vergelijkbaar met bod op Atrium t.o.v. kwartaaldividend).
17. effegenoeg 18 november 2019 15:44

    auteur info

    • effegenoeg

      Lid sinds: 30 jan 2013

      Laatste bezoek: 07 feb 2025

    • Aanbevelingen

      Ontvangen: 1525

      Gegeven: 183

    •    Aantal posts: 15.128

    Eerst maar es afwachten wat er uit zal komen op 2 dec.
    We zullen er niet slechter van worden is mijn inschatting.
    Hoewel ik al genoeg financiële waarden in de portefeuille heb moet ik zeggen.
    
18. shaai 18 november 2019 17:15

    auteur info

    • shaai

      Lid sinds: 29 jul 2005

      Laatste bezoek: 07 feb 2025

    • Aanbevelingen

      Ontvangen: 459

      Gegeven: 1181

    •    Aantal posts: 4.568

    quote:

    torro schreef op 18 november 2019 15:14:

    [...]nog steeds een leuk dividend Adriaan
    

    ehhh??
    Bassie??
    Boef B?
19. shaai 18 november 2019 17:34

    auteur info

    • shaai

      Lid sinds: 29 jul 2005

      Laatste bezoek: 07 feb 2025

    • Aanbevelingen

      Ontvangen: 459

      Gegeven: 1181

    •    Aantal posts: 4.568

    quote:

    DeZwarteRidder schreef op 18 november 2019 15:18:

    Het lijkt erop dat ze Eurocastle van de beurs willen halen; waarschijnlijk is dat zeer winstgevend voor de beheerders, want anders zouden ze dat niet doen.
    
    Het lijkt er ook op dat het dividend geschrapt wordt of verlaagd.
    

    ik denk gewoon versnelling van het bestaande realisatie traject, waar ze al lang mee bezig zijn. Volgens mij zeiden ze tijden terug al dat hun grote klanten cash willen zien ipv voortzetten Eurocastle, en ligt dit in het verlengde daarvan
20. A3aan 18 november 2019 18:16

    auteur info

    • A3aan

      Lid sinds: 04 jan 2014

      Laatste bezoek: 07 feb 2025

    • Aanbevelingen

      Ontvangen: 5277

      Gegeven: 529

    •    Aantal posts: 14.352

    quote:

    torro schreef op 18 november 2019 15:14:

    [...]nog steeds een leuk dividend Adriaan
    

    Dag Torro, ik heb ze inderdaad nog steeds. Alles goed mij jou?