The Rabobank Participations
may be cancelled in case:
(i) of dissolution of Rabobank without its business being continued;
(ii) Rabobank holds any Rabobank Certificates and the Executive Board resolves to cancel the related
Rabobank Participations, subject to the approval of the Supervisory Board; and
(iii) the Executive Board resolves to cancel (part of) (a class of) the Rabobank Participations, subject to the
prior consent of the Supervisory Board and provided that Rabobank has sufficient own funds to effect
such cancellation.
A cancellation as referred to under (ii) or (iii) may only be effected with the permission of the ECB, the
DNB or any other relevant competent authority at such time and subject to any conditions which the ECB, the DNB
or any other such competent authority at such time may attach to such permission. In the event of cancellation as
referred to under (iii), the nominal value of the relevant class of Rabobank Participations must be repaid on each
Rabobank Participation in that class.
Massima flessibilita'.
Occhio a non ragionare su questo strumento così come siamo abituati a fare per gli AT1. Trattasi di "creatura" che segue regole completamente diverse, che non starò qui nemmeno a cercare di descrivere per sommi capi, per non fare una gran confusione.
Basti ricordare che ha lo stesso grado di subordinazione delle "Shares"...
Chiunque voglia investire qui seriamente dovrebbe fare lo sforzo di leggersi il prospetto...