General Shareholders Meeting 2011
Royal Ten Cate nv held its Annual General Meeting of Shareholders on Thursday 21 April in Almelo. At this 54th edition of the company’s annual meeting, there was recognition on all sides for the company’s performance and the results achieved in 2010.
Seventy-eight private and institutional shareholders were present, representing 53.5% of the issued share capital of TenCate. Several investors who were not present took advantage of the e-voting system.
Three of the 78 shareholders present were Tony ten Cate (picture), Henk Scheppink and Joop Witteveen. Each of them has a special relationship with the company, and all three have long been familiar with its progress.
Tony ten Cate - his forefathers were the founders of H. ten Cate Hzn & Co in Almelo - has closely followed TenCate since the seventies. ‘There’s a good atmosphere, marked by frankness and respect for the shareholder, and those present are given sufficient opportunity to ask questions. The meeting has been well prepared. Compared with a few years ago, sustainability has become a less prominent media topic. But you can’t dismiss it and TenCate certainly doesn’t do so, but perhaps we must showcase this a little more clearly.'
Henk Scheppink (picture) worked at TenCate as head of corporate administration from August 1968 to December 2007. He only attends the shareholders meeting of TenCate, and consequently cannot compare it with those of other companies in terms organization and level. The former colleague is particularly interested in the performance of the past year and the prospects for the years to come. ‘The performance of TenCate in 2010 was excellent and I expect it to match the year 2008 in 2011.’
Joop Witteveen (picture) is head of Dutch Small Cap Investments at Kempen & Co. This merchant bank and asset manager invests in the TenCate share. ‘As portfolio holder, I’ve come to know TenCate more intensively, for example through frequent talks with the Executive 'Clear information is provided at this meeting − although time constraints make it difficult to cover each TenCate product group thoroughly. It may be advisable to deal with a different product more specifically each year, for example using a film or product samples. Ten Cate has performed excellently in 2010’, is his assessment, ‘and this after the difficult year of 2009. The future also looks bright, with the development of new products and markets. New acquisitions, innovations and disinvestments can reinforce this picture.’