Bilateral contact with shareholders

Bilateral contacts

Vopak may engage in bilateral contact with (potential) shareholders. The main objective of such contact is to explain our strategy and operational performance and answer questions. Vopak takes the Dutch Corporate Governance Code (December 2009) into account when engaging in bilateral contact with shareholders.

Guidelines for bilateral contact

• A dialogue with shareholders outside the context of a formal shareholder meeting can be useful for both investors as well Vopak.
• Vopak reserves the right to determine, at its sole discretion, whether it will accept invitations from shareholders, or parties representing shareholders, to engage in such a dialogue. Vopak may ask for further clarification on the views, aims and investment objectives of such shareholders before accepting or rejecting any invitation to engage in a dialogue outside the context of a formal shareholder meeting.
• Vopak communicates as openly as possible to maximize transparency.
• Response to (draft) analyst reports (third party publications) is only provided by reference to public information and published guidance. Comments on these reports are given only in relation to incorrect factual information.
• Vopak’s contact with investors and sell-side analysts will at all times be conducted in compliance with applicable rules and regulations, in particular those concerning selective disclosure, price sensitive information and equal treatment.

Closed periods

Closed periods are the periods prior to the publication of our financial results during which in principle no meetings will be held with and no presentations will be given to financial analysts and investors. In addition, during closed periods no other communication with analysts and investors will take place, unless such communication relates to factual clarifications of previously disclosed information. Usually, the length of the closed period is eight weeks prior to full year results (and publication of the Annual Report), four weeks prior to half-yearly results and two weeks prior to Q1 and Q3 statements (‘trading updates’).

Activities

Members of the Executive Board and the Investor Relations department organized more than 300 meetings with current or potential investors during 2010. Vopak holds a press conference coinciding with the publication of the annual results. Following the publication of the annual and semi-annual results, Vopak also conducts a meeting with financial analysts. The publication of the first and third quarter results is followed by a telephone conference. These sessions can be followed via the company’s website in either a video or audio webcast, and the information presented at these meetings is also timely published on the company’s website.