Aegon Determines Share Price For Conversion Of Preferred Shares

AMSTERDAM--Dutch insurance company Aegon NV (AEG) Friday said the preferred shares held by Vereniging Aegon will be converted into 121 million common shares and 566 million common shares B.

MAIN FACTS:

- On February 15, 2013, Aegon and Vereniging Aegon ('the Association') announced their agreement to cancel all of Aegon's preferred shares, of which the Association is the sole owner.

- Under the agreement, all preferred shares will be exchanged for 400 million euro in cash, the equivalent of 655 million euro in common shares and 83 million euro of dividends on the preferred shares.

- The number of common shares to be received by the Association is based on the volume-weighted average price of Aegon common shares on Euronext Amsterdam from February 15 up to, and including, February 28, 2013.

- The volume-weighted average price over this period was 4.86 euro. Based on this share price, the preferred shares will be converted into 121 million common shares and 566 million common shares B.

- As a result of the conversion, the number of common shares outstanding will increase by 7%.

- The dilutive effect on earnings per share is limited to 3% as there will be no preferred dividend payments following the transaction.

- Aegon's Supervisory Board will propose to approve the new capital structure at the annual General Meeting of Shareholders on May 15, 2013.

- Following shareholder approval and subsequent execution of the transaction, the Association will hold a total of 307 million* common shares and a total of 2,080 million* common shares will be outstanding. Vereniging Aegon will have 14.8% of the voting rights in ordinary course.

- By Amsterdam Bureau, Dow Jones Newswires; [e-mail]

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