Royal BAM Group nv shares

Stock exchange listing

BAM has been listed on Euronext Amsterdam since 1959 (symbol: BAMNB; ISIN code: NL0000337319). The share is included in the AScX index and options are traded by Liffe, the Euronext derivatives exchange. The market capitalisation was €735 million at year-end 2021 (year-end 2020: €466 million).

Investor relations policy

The purpose of the investor relations policy is to provide accurate, transparent and consistent information simultaneously and timely to stakeholders, which include existing and potential shareholders, financial institutions, brokers and the media. BAM wants to ensure a clear understanding about its strategy, performance and decisions to create awareness and confidence. Information is made available through the annual integrated report, quarterly (financial) information, press releases and presentations to investors, which are all available on the website. BAM discloses price-sensitive information without delay by press release and on its site.

BAM publishes quarterly (financial) information. The full-year and half-year results are presented at analyst meetings. The trading updates for the first quarter and the nine months are presented during conference calls. These events are held in the English language and can be followed live or on demand on the website. BAM organises road shows and participates in investor conferences to meet existing and potential investors. All data and venues are published on the website.

BAM observes a closed period in which the Company exercises restraint concerning the entering into contact with investors, analysts and press about the general business of the Company. This closed period starts each period of six weeks prior to the publication of each annual report and half-year report and in each period of three weeks prior to the publication of the first and third quarter trading updates.

BAM is covered by analysts of all major Dutch brokers; they are key in distributing information to support the investment case to their clients. Research reports about BAM are available through these brokers. Contact details are available on the website.

All activities comply with the rules and regulations of Euronext Amsterdam and the Dutch Authority for the Financial Markets (AFM). More information about investor relations is available on www.bam.com under the link Investor relations or from Manager Investor Relations Michel Aupers, ir@bam.com, +31 (0)30 659 89 88.

Share price

The 2021 closing price of the ordinary share was €2.69, which was 57 per cent above the closing price at year-end 2020 (€1.71). The AScX index ended the year 23 per cent higher. BAM’s share price decreased by 39 per cent over the last five years. By way of comparison, the AEX and the AScX index rose by 65 per cent and 87 per cent in the same period.

Graph 45 shows the history of the BAM ordinary share price over the past five years.

45 Ordinary share price movement
(in €)

Trading volume on Euronext Amsterdam

The average daily trade was 2,021,000 ordinary shares (2020: 3,331,000). In 2021 the average daily trade in BAM shares was €4.8 million (2020: €5.3 million).

46 Information per share
(in € per share, unless otherwise indicated)

  2021 2020 2019 2018 20174
Number of ordinary shares ranking for dividend  273,296,017 273,296,017  273,296,017  273,296,017  273,213,334
Average number of ordinary shares  273,296,017  273,296,017  273,495,636  273,490,657  272,215,432
Net result ranking for dividend  0.07 (0.45)  0.04  0.09  (0.05)
Net result from continued operations  0.07 (1.00)  0.04  0.09  (0.05)
Average number of ordinary shares (diluted)  284,460,568 299,124,151  299,039,187  298,269,233  296,427,682
Number of ordinary shares ranking for dividend (diluted)  273,296,017  298,143,950  299,157,729  298,297,517  297,584,081
Net result (diluted)  0.07  (0.45)  0.04  0.09  (0.05)
Net result from continued operations (diluted)  0.07  (1.00)  0.04  0.09  (0.05)
Cash flow before dividend  0.78  0.41  0.69  0.43  0.18
Equity attributable to shareholders  2.39  2.13  2.30  2.61  2.64
Dividend1  0.00  0.00  0.00  0.14  0.10
Pay-out (in %)  0.0  0.0  0.0  40  50
Dividend yield (in %)2  0.0  0.0 0.0  5.6  2.6
Highest closing price  3.03  2.68 4.38  4.16  5.46
Lowest closing price  1.61  1.03  2.16  2.37  3.45
Price on 31 December 2.69  1.71  2.69  2.51  3.83
Average daily trade (in number of shares)  2,021,000  3,331,000  2,528,000  1,723,000  1,926,000
Market capitalisation at year-end (x €1,000)3  735,166  465,970  734,074  687,066  1,053,239

1 Dividend proposal 2021
2 Based on share price at year-end.
3 Based on total number of ordinary shares in issue.
4 Adjusted for IFRS 15.

47 Geographical distribution shareholders as at 31 December 2021

1 Netherlands including treasury shares
2 Retail, Primary dutch shareholders

Shareholders

BAM closely monitors the development in its shareholder base by following public market information and a yearly shareholder identification report. Under the Dutch Financial Supervision Act, shareholders must disclose to the Dutch Authority for the Financial Markets (AFM) when they hold 3 per cent or more of shares and when they transfer to a different threshold level. At the end of 2021 no shareholders disclosed a position surpassing 3 per cent in BAM’s share capital. The Company holds 6,111,432 (2 per cent) treasury shares, of which 5,174,216 shares for the long-term incentive plan of management.

Number of outstanding ordinary shares

48 The movement in the number of outstanding shares

  2021 2020
Outstanding ordinary shares as at 1 January  279,407,449  279,407,449
Shares issued for stock dividend -  -
Outstanding ordinary shares as at 31 December  279,407,449  279,407,449
Treasury shares to offset dilution stock dividend  (937,216)  (3,311,432)
Treasury shares held for performance share plan  (5,174,216)  (2,800,000)
Ordinary shares ranking for dividend as at 31 December  273,296,017  273,296,017
Percentage ordinary shares ranking for dividend  97.8%  97.8%

Subordinated unsecured convertible bonds

On 15 June 2021, BAM redeemed the remaining €120 million of the subordinated unsecured convertible bonds with an annual coupon of 3.5 per cent, which were placed in 2016, at their principal amount.

Dividend policy

BAM has a dividend policy to distribute a dividend between 30 and 50 per cent of the net result for the year. When deciding upon the dividend, the Company considers the balance sheet structure supporting the strategic agenda. The proposal is to distribute no dividend over 2021 (2020: no dividend distributed).

 

 

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