All shares in ABN AMRO Group N.V., are held by a foundation named Stichting administratiekantoor beheer financiŽle instellingen ('NLFI').
On 29 September 2011 the Dutch State transferred its shares in ABN AMRO BANK N.V. to NLFI. NLFI is set up as a means to avoid potential conflicting responsibilities that the Minister of Finance might otherwise face, as a shareholder and as a regulator, as well as to avoid political influence being exerted.
NLFI issued exchangeable depositary receipts for shares in return for acquiring and holding, in its own name, the shares of the Dutch State. NLFI is responsible for managing these shares and exercising all rights associated with these shares under Dutch law, including voting rights. This is in line with the intended commercial, non-political management of the shares. However, material or principal decisions require the prior approval of the Minister of Finance, who will also be able to provide binding voting instructions with respect to such decisions. NLFI's objectives exclude disposing of or encumbering the shares, except pursuant to authorisation from the Minister of Finance.