For a better experience, we recommend to use the calculation tool on your desktop device.
The calculation tool will allow you to obtain an estimate of the amount you might be eligible to receive. To access this you must firstly register below. Please remember that the amounts are just indicative at this stage. The amount of compensation is subject to potential dilution or increase. You will have to timely file a claim form and you will also need to provide evidence of your claim once the settlement has been declared binding. At that time we will tell you more about what you need to do. No further action is required at this stage.
Download here the user manual of the calculation tool.
For now please just provide us with your email address and you will receive the token that will allow you to connect.
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The calculator is accompanied by a note stating that the amount calculated is merely indicative, and that the amount of compensation is subject to a potential decrease ("dilution") or increase compared to the calculated amount. What exactly does this mean?
The maximum total amount payable to all eligible shareholders under the settlement is EUR 1,203,700,000. Moreover, there are two sub-maximums: the maximum total amount to be distributed among Active Claimants is EUR 795,900,000. For Non-Active Claimants, the maximum total amount to be distributed is EUR 407,800,000.
In determining the compensation per Fortis Unit as well as the total amount, the settlement parties attempted to realistically assess the total number of Fortis Units for which a valid claim for compensation would be submitted.
They were able to give a fairly accurate estimate of the number of Fortis Units held by Active Claimants, since these are persons who have already identified themselves through legal action or have signed up with one of the settlement parties.
However, the assessment of the number of Fortis Units held by Non-Active Claimants was more complicated. By nature, these are people who have not yet identified themselves. Still, the parties have tried to establish the expected turnout for this group based on historical data from other settlements and scientific/academic studies.
After the submission period for claim forms ends, the claims administrator will determine the total number of Fortis Units for which compensation is being claimed. If at that time it turns out that compensation is claimed for fewer Fortis Units than expected when determining the total amount of compensation available for the group of Active Claimants and for the group of Non-Active Claimants, the total amount for the relevant group will not be fully utilised. In that case, the excess funds will first be used to proportionally increase the per share compensation for the three relevant periods payable to each claimant in the relevant group by up to 15 percent. If there is any excess remaining after such increase, any such amount will be used – insofar as necessary – to proportionally increase the per share compensation for the three relevant periods payable to claimants in the other group with a maximum of 15 percent compared to the base per share compensation.
Conversely, if it turns out that compensation has been claimed for more Fortis Units than expected in the group of Active Claimants or the group of Non-Active Claimants, the amounts payable will be proportionally reduced for the relevant group. Amounts remaining after an increase in one group can be used to proportionally increase the per share compensation for the three relevant periods payable to claimants in the other group. This is an exception to the sub-maximums set out above. For an indicative illustration of these effects, please consider the following estimates:
• if the number of Fortis Units presented by Active Claimants respectively Non-Active Claimants claiming compensation is 10 percent higher than assumed in the base case scenario, the expected compensation for Active Claimants respectively Non-Active Claimants for the Fortis Units held or bought in the three periods and the additional compensation (claim form add-on and retail add-on) would decrease by approximately 9 percent;
• if the number of Fortis Units presented by Active Claimants respectively Non-Active Claimants claiming compensation is 20 percent higher than assumed in the base case scenario, the expected compensation for Active Claimants respectively Non-Active Claimants for the Fortis Units held or bought in the three periods and the additional compensation (claim form add-on and retail add-on) would decrease by approximately 17 percent;
• if the number of Fortis Units presented by Active Claimants respectively Non-Active Claimants claiming compensation is 10 percent lower than assumed in the base case scenario, the expected compensation for Active Claimants respectively Non-Active Claimants for the Fortis Units held or bought in the three periods would increase by approximately 11 percent while the additional compensation (claim form add-on and retail add-on) would remain unchanged;
• if the number of Fortis Units presented by Active Claimants respectively Non-Active Claimants claiming compensation is 20 percent lower than assumed in the base case scenario, the expected compensation for Active Claimants respectively Non-Active Claimants for the Fortis Units held or bought in the three periods would increase by approximately 15 percent while the additional compensation (claim form add-on and retail add-on) would remain unchanged.
The above estimates are indicative only. The base case scenario contains certain assumptions about the distribution of shares held and shares bought and of Active and Non-Active Claimants over the three relevant periods, as well as about the number of shares per claimant. The base case scenario further assumes that the actual percentage of Fortis Units for which compensation will be claimed, also known as the "take-up rate", is such that the total amount available for compensation will be fully paid out without any dilution or increase, meaning that claimants receive the amounts per Fortis Unit as mentioned in the calculator and the Settlement Agreement. This will be the case at a take-up rate for Active and Non-Active Claimants combined that is approximately 43 percent (which is a weighted average of the take-up rate for Active Claimants of 100 percent and of Non-Active Claimants of 25 percent). The above indicative estimates also assume that the same (higher or lower) take-up rates apply (i) in each of the three relevant periods and (ii) equally to Fortis Units that were bought and to Fortis Units that were merely held. A change in these assumptions will of course have an impact on the actual compensation. Please also note that the reason why the additional compensation (claim form add-on and retail add-on) stays the same when the take-up rate is lower than the base case, is because the additional compensation has already reached its maximum amount in the base case and therefore cannot increase further.
You can find further explanations in the Submission after case management hearing and in the Submission after oral hearing, published on this website in the category ‘Documents’. The Submission after case management hearing also contains an explanation of the likelihood that the take-up rate for Active and Non-Active Claimants will exceed 43 percent. In that document the settlement parties also reported research (conducted in the United States) on the question what the chances are that the take-up rate is higher than 43 percent. On the basis of that research it was concluded that in 12 percent of the cases the take-up rate was higher than the said 43 percent. Such higher take-up rate would imply that the compensation for claimants would be lower than in the base case scenario which is used for the calculator. Based on analysis and research, the settlement parties determined that a take-up rate of 43 percent was a reasonable outcome. However, future take-up rates cannot be guaranteed and a higher take-up rate than 43 percent cannot be excluded.
Finally, users of the calculator should note that the results generated by the calculator are rounded to the nearest whole number (i.e. to the nearest euro), whereas the compensation ultimately paid to eligible shareholders will be rounded to one hundredth of a euro (i.e. to the nearest euro cent).